Focus Financial Network Inc. Has $6.91 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Focus Financial Network Inc. increased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,988 shares of the social networking company's stock after buying an additional 739 shares during the period. Focus Financial Network Inc.'s holdings in Meta Platforms were worth $6,909,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC lifted its holdings in shares of Meta Platforms by 53.6% in the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Down 0.1%

Shares of NASDAQ META traded down $0.78 during mid-day trading on Thursday, reaching $693.36. The company had a trading volume of 7,303,916 shares, compared to its average volume of 14,503,798. The stock has a fifty day moving average of $597.08 and a two-hundred day moving average of $617.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted 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. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.71 earnings per share. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the completion of the sale, the insider now directly owns 32,103 shares in the company, valued at approximately $19,269,825.75. The trade was a 2.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 7,802 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $701.96, for a total value of $5,476,691.92. Following the sale, the chief executive officer now directly owns 110,477 shares of the company's stock, valued at $77,550,434.92. The trade was a 6.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,201 shares of company stock worth $56,377,837. Insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on META. Raymond James lowered their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. Morgan Stanley upped their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Oppenheimer upped their price target on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Loop Capital upped their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Susquehanna lowered their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $704.26.

About Meta Platforms

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.