First Foundation Advisors grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,298 shares of the social networking company's stock after acquiring an additional 364 shares during the quarter. First Foundation Advisors' holdings in Meta Platforms were worth $12,851,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Valley Financial Group Inc. raised its stake in Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after acquiring an additional 14 shares during the period. Riverwater Partners LLC grew its holdings in shares of Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after acquiring an additional 15 shares during the period. ABLE Financial Group LLC raised its position in shares of Meta Platforms by 0.7% in the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after acquiring an additional 15 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC lifted its stake in shares of Meta Platforms by 1.2% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock valued at $840,000 after purchasing an additional 17 shares during the period. 79.91% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Cantor Fitzgerald increased their price objective on Meta Platforms from $828.00 to $920.00 and gave the stock an "overweight" rating in a report on Thursday. Susquehanna reduced their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $845.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday. Piper Sandler boosted their price objective on shares of Meta Platforms from $808.00 to $880.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Barclays raised their target price on shares of Meta Platforms from $640.00 to $810.00 and gave the company an "overweight" rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $820.32.
Check Out Our Latest Stock Report on META
Insider Activity at Meta Platforms
In related news, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was 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 directly owned 118,279 shares of the company's stock, valued at $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,980 shares of company stock worth $105,708,832. Corporate insiders own 13.61% of the company's stock.
Meta Platforms Price Performance
Shares of NASDAQ:META opened at $750.01 on Friday. The company has a quick ratio of 2.66, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.89 trillion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The firm's 50 day moving average price is $701.68 and its 200-day moving average price is $645.88. Meta Platforms, Inc. has a twelve month low of $450.80 and a twelve month high of $784.75.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The business 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%. The firm's revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the company earned $5.16 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS 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 given a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's payout ratio is 8.19%.
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.
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