Evolutionary Tree Capital Management LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,796 shares of the social networking company's stock after acquiring an additional 664 shares during the period. Meta Platforms comprises approximately 5.2% of Evolutionary Tree Capital Management LLC's investment portfolio, making the stock its 4th largest holding. Evolutionary Tree Capital Management LLC's holdings in Meta Platforms were worth $4,493,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of META. Brighton Jones LLC raised 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 raised 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 stake in shares of Meta Platforms by 3.5% during 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 purchasing an additional 7,587 shares during the period. Highview Capital Management LLC DE raised its stake in shares of Meta Platforms by 3.7% during the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock worth $3,624,000 after purchasing an additional 218 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Meta Platforms during the 4th quarter worth $2,243,603,000. 79.91% of the stock is currently owned by institutional investors.
Insider Transactions at Meta Platforms
In related news, CEO Mark Zuckerberg sold 15,847 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $768.67, for a total value of $12,181,113.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher K. Cox sold 60,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total value of $46,557,000.00. Following the completion of the sale, the insider directly owned 237,205 shares in the company, valued at approximately $184,059,219.75. This represents a 20.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 260,024 shares of company stock valued at $188,466,159 in the last three months. Company insiders own 13.61% of the company's stock.
Analyst Ratings Changes
META has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Meta Platforms from $783.00 to $811.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Moffett Nathanson lifted their price objective on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. The Goldman Sachs Group lifted their price objective on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank Of Canada lifted their price objective on Meta Platforms from $740.00 to $840.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Pivotal Research lifted their price objective on Meta Platforms from $830.00 to $930.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $822.41.
Check Out Our Latest Research Report on META
Meta Platforms Price Performance
Shares of Meta Platforms stock opened at $761.83 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.92 trillion, a PE ratio of 27.58, a P/E/G ratio of 1.60 and a beta of 1.27. The business has a 50 day moving average of $711.99 and a 200 day moving average of $649.96. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $784.75.
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 for the quarter, topping the consensus estimate of $5.75 by $1.39. The company 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 revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.16 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 7.60%.
Meta Platforms Company 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.
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