Golden State Wealth Management LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 151.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,198 shares of the social networking company's stock after acquiring an additional 7,341 shares during the period. Golden State Wealth Management LLC's holdings in Meta Platforms were worth $7,032,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Fjell Capital LLC purchased a new position in Meta Platforms during the fourth quarter valued at $1,836,000. Opulen Financial Group LLC purchased a new position in Meta Platforms during the fourth quarter valued at $325,000. Daner Wealth Management LLC purchased a new position in Meta Platforms during the fourth quarter valued at $334,000. Brighton Jones LLC lifted its holdings in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Meta Platforms during the fourth quarter valued at $112,406,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Meta Platforms
In related news, Director Robert M. Kimmitt sold 465 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $699.27, for a total value of $325,160.55. Following the completion of the sale, the director now owns 9,807 shares in the company, valued at $6,857,740.89. This represents a 4.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 406 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares of the company's stock, valued at approximately $2,265,707.52. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,831 shares of company stock worth $83,868,872. 13.61% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
META has been the topic of several recent analyst reports. Susquehanna decreased their price objective 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. Pivotal Research decreased their price objective 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. Raymond James Financial decreased their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Finally, Guggenheim raised their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $719.52.
Get Our Latest Stock Report on Meta Platforms
Meta Platforms Stock Up 1.0%
Meta Platforms stock traded up $7.54 during trading on Friday, reaching $733.63. The stock had a trading volume of 18,758,104 shares, compared to its average volume of 14,544,681. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The business has a 50 day moving average price of $638.51 and a 200 day moving average price of $626.52. 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 has a market cap of $1.84 trillion, a PE ratio of 28.61, a P/E/G ratio of 1.79 and a beta of 1.26.
Meta Platforms (NASDAQ:META - Get Free Report) last issued 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the firm earned $4.71 earnings per share. The firm's quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders 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 dividend yield of 0.29%. Meta Platforms's dividend payout ratio is presently 8.19%.
About Meta Platforms
(
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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