Calamos Wealth Management LLC Purchases 18,776 Shares of Meta Platforms, Inc. (NASDAQ:META)

Calamos Wealth Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 131.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,094 shares of the social networking company's stock after buying an additional 18,776 shares during the period. Meta Platforms comprises 1.0% of Calamos Wealth Management LLC's holdings, making the stock its 21st largest position. Calamos Wealth Management LLC's holdings in Meta Platforms were worth $19,074,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Aviance Capital Partners LLC raised its holdings in shares of Meta Platforms by 9.0% in the 1st quarter. Aviance Capital Partners LLC now owns 22,412 shares of the social networking company's stock valued at $12,917,000 after purchasing an additional 1,850 shares during the period. Sitrin Capital Management LLC raised its holdings in shares of Meta Platforms by 0.9% in the 1st quarter. Sitrin Capital Management LLC now owns 10,851 shares of the social networking company's stock valued at $6,254,000 after purchasing an additional 99 shares during the period. MBA Advisors LLC raised its holdings in shares of Meta Platforms by 4.5% in the 1st quarter. MBA Advisors LLC now owns 1,702 shares of the social networking company's stock valued at $981,000 after purchasing an additional 74 shares during the period. Aurora Private Wealth Inc. raised its holdings in shares of Meta Platforms by 0.8% in the 1st quarter. Aurora Private Wealth Inc. now owns 5,222 shares of the social networking company's stock valued at $3,010,000 after purchasing an additional 42 shares during the period. Finally, Davidson Trust Co. raised its holdings in shares of Meta Platforms by 69.6% in the 1st quarter. Davidson Trust Co. now owns 1,255 shares of the social networking company's stock valued at $723,000 after purchasing an additional 515 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 1.7%

META stock traded up $12.11 during midday trading on Wednesday, hitting $732.78. The stock had a trading volume of 11,398,608 shares, compared to its average volume of 14,483,554. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year 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 firm has a market cap of $1.84 trillion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The business has a fifty day moving average price of $665.58 and a two-hundred day moving average price of $631.83.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share 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 firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 earnings per share. The business's quarterly revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders 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 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Activity

In other news, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer owned 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the company's 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 transaction, the chief technology officer owned 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,756 shares of company stock worth $104,720,878. Company insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on META. Benchmark decreased their price target on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Roth Capital increased their target price on shares of Meta Platforms from $620.00 to $740.00 and gave the stock a "buy" rating in a research report on Tuesday. Susquehanna reduced their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Moffett Nathanson increased their price target 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. Finally, Monness Crespi & Hardt increased their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $727.95.

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.