Diversify Wealth Management LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 26,743 shares of the social networking company's stock after buying an additional 1,703 shares during the period. Meta Platforms comprises about 1.1% of Diversify Wealth Management LLC's portfolio, making the stock its 15th largest holding. Diversify Wealth Management LLC's holdings in Meta Platforms were worth $14,827,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Inlight Wealth Management LLC acquired a new stake in shares of Meta Platforms in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms during the first quarter worth approximately $28,000. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
Meta Platforms Stock Performance
Shares of META stock traded down $7.48 during mid-day trading on Wednesday, hitting $702.91. 13,045,170 shares of the stock were exchanged, compared to its average volume of 14,428,982. The stock's fifty day simple moving average is $679.66 and its two-hundred day simple moving average is $635.93. The stock has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the company posted $4.71 earnings per share. The business's revenue was up 16.1% on a year-over-year basis. On average, analysts forecast 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. 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 0.30%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on META shares. Cantor Fitzgerald upped their price target on Meta Platforms from $807.00 to $828.00 and gave the company an "overweight" rating in a research report on Wednesday. TD Securities decreased their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Moffett Nathanson upped their price objective on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a 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 report on Monday, June 16th. Finally, Morgan Stanley upped their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $732.67.
Check Out Our Latest Stock Analysis on META
Insider Buying and Selling
In related news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief technology officer owned 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the sale, the chief executive officer owned 118,279 shares of the company's stock, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,780 shares of company stock valued at $105,009,697 over the last quarter. 13.61% of the stock is currently owned by insiders.
Meta Platforms Profile
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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
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