BCR Wealth Strategies LLC Has $298,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

BCR Wealth Strategies LLC cut its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 79.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 518 shares of the social networking company's stock after selling 1,965 shares during the quarter. Meta Platforms makes up about 0.1% of BCR Wealth Strategies LLC's holdings, making the stock its 24th biggest position. BCR Wealth Strategies LLC's holdings in Meta Platforms were worth $298,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in Meta Platforms in the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms in the 1st quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Meta Platforms in the 1st quarter worth $33,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the 4th quarter worth $45,000. Finally, JCIC Asset Management Inc. grew its position in Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after purchasing an additional 40 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the topic of several research analyst reports. Hsbc Global Res upgraded shares of Meta Platforms from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 31st. Citigroup reiterated an "outperform" rating on shares of Meta Platforms in a research report on Thursday, July 31st. Evercore ISI upped their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada raised their price target on shares of Meta Platforms from $740.00 to $840.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $822.41.

Meta Platforms Stock Up 1.0%

Shares of NASDAQ:META opened at $769.30 on Friday. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $784.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $1.93 trillion, a PE ratio of 27.85, a PEG ratio of 1.58 and a beta of 1.27. The company has a 50 day moving average price of $714.53 and a two-hundred day moving average price of $651.01.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. During the same quarter in the prior year, the firm earned $5.16 earnings per share. The business's quarterly revenue was up 21.6% on a year-over-year basis. Analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is 7.60%.

Insider Activity

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the sale, the chief technology officer owned 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher K. Cox sold 60,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the completion of the sale, the insider owned 237,205 shares of the company's stock, valued at approximately $184,059,219.75. This represents a 20.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,024 shares of company stock worth $199,983,159 over the last quarter. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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