Davis R M Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,412 shares of the social networking company's stock after acquiring an additional 1,687 shares during the quarter. Meta Platforms comprises approximately 1.4% of Davis R M Inc.'s holdings, making the stock its 20th biggest holding. Davis R M Inc.'s holdings in Meta Platforms were worth $70,553,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in META. Inlight Wealth Management LLC acquired a new stake in Meta Platforms in the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the 1st quarter valued at approximately $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Meta Platforms during the 1st quarter valued at approximately $33,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the 4th quarter valued at approximately $45,000. Finally, JCIC Asset Management Inc. grew its stake in Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Price Performance
Shares of META stock traded down $12.91 during mid-day trading on Tuesday, hitting $763.46. 11,612,061 shares of the stock traded hands, compared to its average volume of 13,355,778. Meta Platforms, Inc. has a twelve month low of $478.65 and a twelve month high of $784.75. The firm has a market cap of $1.92 trillion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The company's 50-day simple moving average is $704.66 and its 200-day simple moving average is $647.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The company had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. During the same period last year, the firm earned $5.16 EPS. The firm's revenue for the quarter was up 21.6% on a year-over-year basis. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is presently 7.60%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Piper Sandler raised their price objective on Meta Platforms from $808.00 to $880.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their price objective 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 increased their target price on Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Susquehanna reduced their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Finally, Royal Bank Of Canada increased their target price on Meta Platforms from $740.00 to $840.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $822.41.
Check Out Our Latest Stock Analysis on META
Insiders Place Their Bets
In related news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms 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 disclosure for this sale can be found here. Insiders sold a total of 167,298 shares of company stock worth $116,742,790 over the last 90 days. Insiders own 13.61% of the company's stock.
Meta Platforms Company Profile
(
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.
Further Reading
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
