Brogan Financial Inc. acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 432 shares of the social networking company's stock, valued at approximately $249,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Inlight Wealth Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter valued at $28,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms during the 4th quarter valued at $45,000. Finally, JCIC Asset Management Inc. lifted its position in shares of Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on META. Rosenblatt Securities upped their price target on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Robert W. Baird increased their price objective on Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Benchmark increased their price objective on Meta Platforms from $640.00 to $800.00 and gave the stock a "buy" rating in a report on Wednesday. Evercore ISI increased their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Sanford C. Bernstein increased their price objective on Meta Platforms from $700.00 to $775.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $752.33.
Read Our Latest Analysis on META
Insider Buying and Selling
In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $716.10, for a total transaction of $371,655.90. Following the sale, the insider directly owned 26,069 shares in the company, valued at $18,668,010.90. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Javier Olivan sold 517 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $706.41, for a total value of $365,213.97. Following the transaction, the chief operating officer directly owned 6,302 shares in the company, valued at approximately $4,451,795.82. This represents a 7.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,473 shares of company stock valued at $105,805,440. 13.61% of the stock is currently owned by company insiders.
Meta Platforms Stock Performance
Shares of META traded down $2.12 during trading hours on Friday, hitting $712.68. The stock had a trading volume of 8,253,539 shares, compared to its average volume of 10,556,341. The stock has a fifty day moving average price of $692.48 and a 200 day moving average price of $641.78. Meta Platforms, Inc. has a 12 month low of $450.80 and a 12 month high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market capitalization of $1.79 trillion, a PE ratio of 27.80, a PEG ratio of 1.71 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.71 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given 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 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
About Meta Platforms
(
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.
Further Reading
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