Fourth Dimension Wealth LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Fourth Dimension Wealth LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 22.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,760 shares of the social networking company's stock after acquiring an additional 498 shares during the period. Fourth Dimension Wealth LLC's holdings in Meta Platforms were worth $1,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in Meta Platforms in the fourth quarter worth approximately $19,949,512,000. GAMMA Investing LLC raised its stake in 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 worth $13,517,178,000 after buying an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC raised its stake in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after buying an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new position in Meta Platforms in the fourth quarter worth approximately $2,243,603,000. Finally, Northern Trust Corp raised its stake in Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on META shares. Jefferies Financial Group cut their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Pivotal Research cut their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Susquehanna cut their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Morgan Stanley lifted their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, TD Securities cut their price target on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $719.52.

Meta Platforms Stock Up 1.0%

Shares of NASDAQ META traded up $7.54 during mid-day trading on Friday, hitting $733.63. The company had a trading volume of 18,758,104 shares, compared to its average volume of 14,539,418. The company has a market capitalization of $1.84 trillion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The business's 50-day simple moving average is $638.51 and its 200 day simple moving average is $626.48.

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

Meta Platforms Announces Dividend

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

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the transaction, the chief operating officer now owns 5,622 shares of the company's stock, valued at $2,744,547.96. This represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $710.24, for a total value of $9,796,340.32. Following the completion of the transaction, the chief executive officer now directly owns 57,533 shares in the company, valued at $40,862,237.92. This trade represents a 19.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,831 shares of company stock valued at $83,868,872 over the last quarter. 13.61% of the stock is owned by insiders.

Meta Platforms 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.