Blackhawk Capital Partners LLC. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,642 shares of the social networking company's stock after purchasing an additional 456 shares during the period. Meta Platforms accounts for 4.6% of Blackhawk Capital Partners LLC.'s holdings, making the stock its 2nd biggest holding. Blackhawk Capital Partners LLC.'s holdings in Meta Platforms were worth $9,016,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of META. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter worth approximately $28,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms during the fourth quarter worth $45,000. Institutional investors own 79.91% of the company's stock.
Meta Platforms Stock Performance
META traded down $7.48 during trading hours on Wednesday, hitting $702.91. The stock had a trading volume of 13,045,170 shares, compared to its average volume of 15,735,423. The stock has a market cap of $1.77 trillion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company's fifty day simple moving average is $679.66 and its 200 day simple moving average is $635.93.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 earnings per share. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's payout ratio is 8.19%.
Wall Street Analyst Weigh In
A number of analysts have commented on META shares. Canaccord Genuity Group upped their price target on shares of Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday. Evercore ISI raised their target price on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. DA Davidson lowered their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Wedbush increased their price target on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $732.67.
View Our Latest Analysis on Meta Platforms
Insiders Place Their Bets
In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total transaction of $374,494.83. Following the completion of the transaction, the insider owned 27,107 shares of the company's stock, valued at $19,559,597.99. The trade was a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The disclosure for this sale can be found here. Insiders have sold a total of 152,263 shares of company stock worth $104,638,750 over the last 90 days. Corporate insiders own 13.61% of the company's stock.
Meta Platforms Company Profile
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Free Report)
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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