C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Has $2.23 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,799 shares of the social networking company's stock after purchasing an additional 424 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' holdings in Meta Platforms were worth $2,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Csenge Advisory Group lifted its holdings in shares of Meta Platforms by 12.0% during the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company's stock worth $5,498,000 after purchasing an additional 1,019 shares during the period. Suvretta Capital Management LLC lifted its holdings in shares of Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP lifted its holdings in shares of Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after purchasing an additional 43,200 shares during the period. ARQ Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 4.5% during the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company's stock worth $452,000 after purchasing an additional 34 shares during the period. Finally, JMG Financial Group Ltd. acquired a new position in shares of Meta Platforms during the first quarter worth $284,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 1,037 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $785.18, for a total value of $814,231.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 517 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $770.00, for a total value of $398,090.00. Following the completion of the transaction, the chief operating officer directly owned 4,751 shares in the company, valued at approximately $3,658,270. The trade was a 9.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,243 shares of company stock worth $200,605,051 in the last three months. Corporate insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on META shares. Wedbush lifted their target price on shares of Meta Platforms from $750.00 to $920.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Raymond James Financial lifted their price target on shares of Meta Platforms from $750.00 to $900.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. Guggenheim reaffirmed a "buy" rating and issued a $800.00 price target (up from $725.00) on shares of Meta Platforms in a research note on Monday, July 28th. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Moffett Nathanson boosted their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $822.41.

Meta Platforms Stock Performance

Shares of META opened at $782.13 on Friday. The stock has a 50-day simple moving average of $722.68 and a 200-day simple moving average of $654.81. 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 stock has a market capitalization of $1.96 trillion, a PE ratio of 28.32, a PEG ratio of 1.62 and a beta of 1.27. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $795.46.

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

Meta Platforms Announces Dividend

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

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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