4,250 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Caliber Wealth Management LLC KS

Key Points

• Caliber Wealth Management LLC KS invested approximately $2.45 million in Meta Platforms by purchasing 4,250 shares in the first quarter, according to their 13F filing.
• Meta reported $6.43 earnings per share for the last quarter, beating estimates and showing a 16.1% year-over-year revenue increase to $42.31 billion.
• Recent analyst reports reflect a consensus rating of "Moderate Buy" with a target price around $754.07, with many institutions increasing their stakes in Meta.

Caliber Wealth Management LLC KS purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,250 shares of the social networking company's stock, valued at approximately $2,450,000.

A number of other institutional investors have also recently made changes to their positions in the company. Trilogy Capital Inc. increased its position in shares of Meta Platforms by 4.7% during the first quarter. Trilogy Capital Inc. now owns 5,250 shares of the social networking company's stock valued at $3,026,000 after buying an additional 238 shares during the period. Westover Capital Advisors LLC raised its holdings in shares of Meta Platforms by 6.8% in the 1st quarter. Westover Capital Advisors LLC now owns 7,298 shares of the social networking company's stock valued at $4,206,000 after acquiring an additional 466 shares in the last quarter. Hedeker Wealth LLC raised its holdings in shares of Meta Platforms by 54.1% in the 1st quarter. Hedeker Wealth LLC now owns 16,782 shares of the social networking company's stock valued at $9,672,000 after acquiring an additional 5,890 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Meta Platforms by 3.3% in the 1st quarter. Assetmark Inc. now owns 814,412 shares of the social networking company's stock valued at $469,395,000 after acquiring an additional 26,226 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Meta Platforms by 8.3% in the 1st quarter. Cetera Investment Advisers now owns 509,947 shares of the social networking company's stock valued at $293,914,000 after acquiring an additional 39,012 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $719.86, for a total value of $373,607.34. Following the completion of the sale, the insider directly owned 25,550 shares of the company's stock, valued at $18,392,423. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,980 shares of company stock valued at $105,708,832 over the last quarter. Company insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of NASDAQ META traded down $23.43 during mid-day trading on Friday, reaching $750.01. The company's stock had a trading volume of 18,985,910 shares, compared to its average volume of 15,659,175. The stock has a fifty day moving average of $699.22 and a two-hundred day moving average of $644.61. Meta Platforms, Inc. has a 52 week low of $450.80 and a 52 week high of $784.75. The firm has a market capitalization of $1.89 trillion, a PE ratio of 27.15, a P/E/G ratio of 1.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a return on equity of 40.31% and a net margin of 39.99%. The firm's revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the company earned $5.16 earnings per share. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS 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 paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Analyst Upgrades and Downgrades

META has been the topic of several recent analyst reports. Oppenheimer raised their price target on Meta Platforms from $775.00 to $870.00 and gave the company an "outperform" rating in a report on Thursday. Citigroup reissued an "outperform" rating on shares of Meta Platforms in a report on Thursday. Barclays raised their price objective on Meta Platforms from $640.00 to $810.00 and gave the company an "overweight" rating in a report on Friday. Benchmark lifted their price target on Meta Platforms from $800.00 to $890.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, 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. Four research analysts have rated the stock with a hold rating, forty have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $815.09.

About Meta Platforms

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.