Meta Platforms, Inc. (NASDAQ:META) is Dakota Wealth Management's 9th Largest Position

Dakota Wealth Management decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,897 shares of the social networking company's stock after selling 917 shares during the period. Meta Platforms accounts for about 1.3% of Dakota Wealth Management's portfolio, making the stock its 9th biggest holding. Dakota Wealth Management's holdings in Meta Platforms were worth $57,576,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in META. Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $19,949,512,000. GAMMA Investing LLC lifted its position in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after buying an additional 23,417,803 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $2,243,603,000. Northern Trust Corp lifted its position in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Meta Platforms by 712.2% during the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock valued at $1,462,589,000 after purchasing an additional 2,225,186 shares during the period. Institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 517 shares of the company's stock in a transaction on 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 approximately $4,892,632.50. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the sale, the director directly owned 9,342 shares in the company, valued at $6,755,013.36. This represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,764 shares of company stock valued at $105,721,208 in the last 90 days. Corporate 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. The company's stock had a trading volume of 12,743,944 shares, compared to its average volume of 14,336,421. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.77 trillion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.72 and a beta of 1.28. 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 simple moving average of $686.09 and a two-hundred day simple moving average of $638.34.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current 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 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 0.30%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Analyst Ratings Changes

A number of brokerages have issued reports on META. Barclays decreased their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Oppenheimer upped their price objective on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. Wells Fargo & Company upped their price objective on Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. JMP Securities restated a "market outperform" rating and set a $750.00 price objective on shares of Meta Platforms in a research report on Wednesday, April 30th. Finally, Pivotal Research decreased their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average price target of $736.05.

Meta Platforms Profile

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.