Cresta Advisors Ltd. increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 25.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,995 shares of the social networking company's stock after acquiring an additional 1,023 shares during the period. Meta Platforms makes up about 1.5% of Cresta Advisors Ltd.'s investment portfolio, making the stock its 15th biggest position. Cresta Advisors Ltd.'s holdings in Meta Platforms were worth $2,879,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of META. Brighton Jones LLC lifted its stake in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after buying an additional 7,587 shares during the period. Highview Capital Management LLC DE raised its position in Meta Platforms by 3.7% in the fourth quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock valued at $3,624,000 after purchasing an additional 218 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Meta Platforms in the fourth quarter valued at about $2,243,603,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 15,847 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher K. Cox sold 60,000 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the transaction, the insider owned 237,205 shares in the company, valued at approximately $184,059,219.75. The trade was a 20.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 289,356 shares of company stock valued at $211,138,344. Corporate insiders own 13.61% of the company's stock.
Meta Platforms Price Performance
NASDAQ:META traded down $9.92 during midday trading on Wednesday, hitting $780.08. 8,791,198 shares of the stock were exchanged, compared to its average volume of 15,392,969. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $795.46. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.59 and a beta of 1.27. The business has a 50-day moving average price of $718.89 and a two-hundred day moving average price of $653.09. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The firm's quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.16 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's dividend payout ratio is currently 7.60%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on META. JPMorgan Chase & Co. raised their target price on Meta Platforms from $795.00 to $875.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. TD Cowen lifted their price objective on Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. KeyCorp lifted their price target on Meta Platforms from $800.00 to $905.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Pivotal Research lifted their price target on Meta Platforms from $830.00 to $930.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Evercore ISI lifted their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $822.41.
View Our Latest Research Report on Meta Platforms
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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