Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Burling Wealth Partners LLC

Burling Wealth Partners LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,884 shares of the social networking company's stock after buying an additional 1,318 shares during the quarter. Meta Platforms makes up 1.4% of Burling Wealth Partners LLC's holdings, making the stock its 17th largest holding. Burling Wealth Partners LLC's holdings in Meta Platforms were worth $6,850,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of META. Inlight Wealth Management LLC bought a new stake in Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Meta Platforms in the 1st quarter valued at $28,000. Millstone Evans Group LLC bought a new stake in Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

META traded up $4.37 on Thursday, reaching $717.95. The stock had a trading volume of 6,940,197 shares, compared to its average volume of 15,476,063. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The business's 50-day moving average price is $689.62 and its two-hundred day moving average price is $640.33. The company has a market cap of $1.81 trillion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the business earned $4.71 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Analyst Ratings Changes

A number of research firms have recently weighed in on META. Loop Capital boosted their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Bank of America upped their price target on shares of Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Robert W. Baird upped their price target on shares of Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Citigroup reiterated a "buy" rating on shares of Meta Platforms in a report on Tuesday, July 15th. Finally, TD Cowen upped their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $752.33.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total transaction of $375,278.52. Following the transaction, the insider owned 26,588 shares in the company, valued at $19,225,251.04. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,954 shares of company stock worth $105,433,784 in the last ninety days. 13.61% of the stock is owned by company insiders.

Meta Platforms Company 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.