Fountainhead AM LLC Purchases 931 Shares of Meta Platforms, Inc. (NASDAQ:META)

Fountainhead AM LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 21.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,324 shares of the social networking company's stock after purchasing an additional 931 shares during the quarter. Fountainhead AM LLC's holdings in Meta Platforms were worth $3,069,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Inlight Wealth Management LLC bought a new position in Meta Platforms in the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms in the first quarter valued at approximately $28,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the fourth quarter worth $45,000. Finally, JCIC Asset Management Inc. raised its holdings in Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after purchasing an additional 40 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $716.10, for a total transaction of $371,655.90. Following the completion of the sale, the insider directly owned 26,069 shares in the company, valued at $18,668,010.90. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,473 shares of company stock valued at $105,805,440. Company insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

META traded down $2.12 during trading on Friday, hitting $712.68. 8,253,539 shares of the company traded hands, compared to its average volume of 15,454,932. The firm has a market cap of $1.79 trillion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average is $691.04 and its 200 day moving average is $640.92. Meta Platforms, Inc. has a one year low of $450.80 and a one year high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.71 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms's payout ratio is presently 8.19%.

Analysts Set New Price Targets

Several research firms have weighed in on META. Canaccord Genuity Group increased their target price on shares of Meta Platforms from $825.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. KeyCorp raised their price objective on shares of Meta Platforms from $655.00 to $800.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Moffett Nathanson raised their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Evercore ISI raised their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday, July 3rd. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $752.33.

Meta Platforms Company Profile

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.