Catalyst Financial Partners LLC raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,808 shares of the social networking company's stock after buying an additional 408 shares during the period. Meta Platforms accounts for about 0.9% of Catalyst Financial Partners LLC's investment portfolio, making the stock its 18th biggest position. Catalyst Financial Partners LLC's holdings in Meta Platforms were worth $5,077,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of META. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms in the first quarter valued at $28,000. Millstone Evans Group LLC bought a new position in Meta Platforms in the fourth quarter valued at $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the fourth quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the fourth quarter valued at $45,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $723.08, for a total value of $375,278.52. Following the completion of the sale, the insider owned 26,588 shares in the company, valued at $19,225,251.04. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $717.50, for a total transaction of $370,947.50. Following the sale, the chief operating officer owned 6,819 shares of the company's stock, valued at $4,892,632.50. This trade represents a 7.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,764 shares of company stock worth $105,721,208. Company insiders own 13.61% of the company's stock.
Meta Platforms Stock Up 0.4%
Shares of Meta Platforms stock traded up $2.87 during trading on Friday, reaching $704.28. 12,743,944 shares of the company traded hands, compared to its average volume of 14,336,421. 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, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The company has a 50 day moving average price of $686.09 and a 200-day moving average price of $638.34. The firm has a market capitalization of $1.77 trillion, a PE ratio of 27.47, a P/E/G ratio of 1.72 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the firm earned $4.71 earnings per share. The business's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal 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 issued a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio is currently 8.19%.
Wall Street Analyst Weigh In
META has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. Wedbush increased their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Scotiabank cut their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. Benchmark cut their target price on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Susquehanna dropped their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and an average price target of $736.05.
Get Our Latest Stock Report on META
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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