Burford Brothers Inc. lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,821 shares of the social networking company's stock after acquiring an additional 658 shares during the quarter. Meta Platforms accounts for 1.6% of Burford Brothers Inc.'s portfolio, making the stock its 12th largest holding. Burford Brothers Inc.'s holdings in Meta Platforms were worth $3,355,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms in the first quarter valued at $28,000. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $45,000. 79.91% of the stock is owned by institutional investors.
Meta Platforms Stock Performance
META stock traded down $1.20 during trading on Friday, reaching $700.21. 8,184,575 shares of the stock were exchanged, compared to its average volume of 14,341,851. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The company has a market capitalization of $1.76 trillion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. The stock has a 50 day simple moving average of $683.85 and a 200-day simple moving average of $637.15. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly 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 firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.71 earnings per share. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.
Insider Activity
In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. This represents a 94.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer owned 70,040 shares of the company's stock, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,764 shares of company stock worth $105,721,208. Insiders own 13.61% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on META shares. Guggenheim increased their target price on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wedbush increased their target price on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Rosenblatt Securities increased their target price on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Citigroup restated a "buy" rating on shares of Meta Platforms in a report on Tuesday. Finally, Monness Crespi & Hardt increased their target price on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Five research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $736.05.
View Our Latest Stock Report on Meta Platforms
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.
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