Invesco LLC Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Invesco LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,654 shares of the social networking company's stock after buying an additional 418 shares during the period. Invesco LLC's holdings in Meta Platforms were worth $2,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in META. Inlight Wealth Management LLC acquired a new stake in shares of Meta Platforms during the first quarter worth $25,000. Millstone Evans Group LLC acquired a new position in Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the fourth quarter valued at $45,000. Finally, Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms during the fourth quarter valued at $47,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 406 shares of the company's stock in a transaction dated 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 represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total transaction of $525,577.86. Following the sale, the insider now directly owns 30,261 shares of the company's stock, valued at approximately $17,268,742.26. This represents a 2.95% 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 valued at $83,868,872. Corporate insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on META. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Citigroup boosted their target price on shares of Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a research report on Tuesday. Roth Capital boosted their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Raymond James Financial decreased their target price 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. Finally, Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research report 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $719.52.

Meta Platforms Price Performance

Shares of META stock traded up $7.54 on Friday, reaching $733.63. 18,758,104 shares of the company were exchanged, compared to its average volume of 14,525,798. The company has a market cap of $1.84 trillion, a price-to-earnings ratio of 28.61, a P/E/G ratio of 1.74 and a beta of 1.26. The business has a 50-day moving average price of $633.87 and a 200 day moving average price of $625.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 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 business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the previous year, the company earned $4.71 earnings per share. The company's quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid 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 0.29%. Meta Platforms's dividend payout ratio is presently 8.19%.

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.