Cvfg LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 30.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,195 shares of the social networking company's stock after selling 515 shares during the quarter. Cvfg LLC's holdings in Meta Platforms were worth $689,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in META. Fjell Capital LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $1,836,000. Opulen Financial Group LLC acquired a new stake in Meta Platforms in the fourth quarter worth about $325,000. Daner Wealth Management LLC acquired a new stake in Meta Platforms in the fourth quarter worth about $334,000. Brighton Jones LLC increased its position in Meta Platforms by 1.7% in the fourth 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. Finally, Union Bancaire Privee UBP SA acquired a new stake in Meta Platforms in the fourth quarter worth about $112,406,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total value of $9,796,340.32. Following the transaction, the chief executive officer now directly owns 57,533 shares of the company's stock, valued at $40,862,237.92. This represents a 19.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer now owns 1,183 shares of the company's stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,831 shares of company stock valued at $83,868,872. 13.61% of the stock is owned by insiders.
Meta Platforms Trading Up 1.0%
NASDAQ META opened at $733.63 on Friday. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The stock's 50 day moving average price is $638.51 and its two-hundred day moving average price is $626.48.
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 (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the business posted $4.71 EPS. The business's revenue was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.
Wall Street Analyst Weigh In
META has been the subject of a number of research reports. DA Davidson lowered their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Bank of America lifted their price objective on Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. UBS Group reiterated a "buy" rating and issued a $812.00 price objective (up from $683.00) on shares of Meta Platforms in a research report on Thursday. TD Securities lowered their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Roth Capital lifted their price objective on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and an average price target of $719.52.
View Our Latest Stock 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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