Fiduciary Family Office LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,020 shares of the social networking company's stock, valued at approximately $4,046,000. Meta Platforms accounts for about 1.3% of Fiduciary Family Office LLC's investment portfolio, making the stock its 7th largest holding.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings 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 valued at $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Northern Trust Corp raised its position in Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares during the period. Assenagon Asset Management S.A. lifted its stake in Meta Platforms by 712.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock worth $1,462,589,000 after acquiring an additional 2,225,186 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Meta Platforms during the 4th quarter worth about $1,162,918,000. Finally, Goldman Sachs Group Inc. boosted its position in Meta Platforms by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,575,962 shares of the social networking company's stock worth $8,977,361,000 after acquiring an additional 1,255,546 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.
Meta Platforms Trading Down 1.3%
Shares of META stock opened at $780.08 on Thursday. 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 capitalization of $1.96 trillion, a P/E ratio of 28.24, a P/E/G ratio of 1.64 and a beta of 1.27. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $795.46. The firm has a 50-day moving average price of $720.73 and a 200 day moving average price of $653.97.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. Meta Platforms's quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 earnings per share. Research analysts forecast 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. Stockholders of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 7.60%.
Insiders Place Their Bets
In related news, insider Jennifer Newstead sold 515 shares of Meta Platforms stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $776.38, for a total value of $399,835.70. Following the completion of the transaction, the insider directly owned 25,035 shares of the company's stock, valued at $19,436,673.30. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher K. Cox sold 15,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $767.80, for a total transaction of $11,517,000.00. Following the sale, the insider directly owned 222,205 shares in the company, valued at approximately $170,608,999. This represents a 6.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 292,211 shares of company stock worth $215,232,155 over the last ninety days. Company insiders own 13.61% of the company's stock.
Analyst Upgrades and Downgrades
META has been the topic of a number of research reports. Pivotal Research upped their target price on Meta Platforms from $830.00 to $930.00 and gave the company a "buy" rating in a report on Thursday, July 31st. DA Davidson upped their price objective on shares of Meta Platforms from $650.00 to $825.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lifted their target price on shares of Meta Platforms from $740.00 to $840.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Monness Crespi & Hardt increased their price objective on Meta Platforms from $780.00 to $860.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Four research 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $822.41.
Check Out Our Latest Stock Report on Meta Platforms
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.
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