Catalyst Private Wealth LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,372 shares of the social networking company's stock after purchasing an additional 609 shares during the period. Meta Platforms comprises about 2.6% of Catalyst Private Wealth LLC's holdings, making the stock its 7th biggest holding. Catalyst Private Wealth LLC's holdings in Meta Platforms were worth $5,402,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also modified their holdings of META. Norges Bank purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $19,949,512,000. GAMMA Investing LLC lifted its holdings in shares of Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after purchasing an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $2,243,603,000. Finally, Northern Trust Corp lifted its holdings in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Stock Performance
Shares of NASDAQ:META traded up $0.92 during trading on Tuesday, hitting $671.82. 6,042,210 shares of the stock were exchanged, compared to its average volume of 14,454,832. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company has a market capitalization of $1.69 trillion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company's fifty day simple moving average is $579.76 and its 200-day simple moving average is $612.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.
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, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the firm earned $4.71 EPS. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on META shares. Raymond James reduced their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a report on Thursday, May 1st. Jefferies Financial Group reduced their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Evercore ISI increased their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Bank of America increased their price objective on Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Scotiabank reduced their price objective on 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $701.05.
Read Our Latest Stock Report on META
Insider Transactions at Meta Platforms
In related news, Director Robert M. Kimmitt sold 475 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $298,418.75. Following the sale, the director now owns 10,272 shares of the company's stock, valued at $6,453,384. The trade was a 4.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 406 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the sale, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,135 shares of company stock valued at $34,481,779. 13.61% of the stock is owned by corporate insiders.
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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