IPG Investment Advisors LLC Has $12.72 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

IPG Investment Advisors LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 41.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,076 shares of the social networking company's stock after purchasing an additional 6,421 shares during the period. Meta Platforms accounts for approximately 2.9% of IPG Investment Advisors LLC's investment portfolio, making the stock its 10th biggest position. IPG Investment Advisors LLC's holdings in Meta Platforms were worth $12,724,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of META. Inlight Wealth Management LLC acquired a new stake in Meta Platforms during the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Meta Platforms in the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Meta Platforms in the 1st quarter valued at about $33,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $45,000. Finally, JCIC Asset Management Inc. grew its stake in shares of Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after buying an additional 40 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Down 1.3%

Shares of NASDAQ:META opened at $761.83 on Friday. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $784.75. The firm has a fifty day moving average of $711.99 and a 200 day moving average of $649.96. The firm has a market capitalization of $1.92 trillion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. During the same period in the prior year, the business posted $5.16 earnings per share. The company's revenue was up 21.6% on a year-over-year basis. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared 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. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 7.60%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on META shares. Pivotal Research raised their target price on Meta Platforms from $830.00 to $930.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. KeyCorp raised their target price on Meta Platforms from $800.00 to $905.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Loop Capital restated a "buy" rating and issued a $980.00 target price (up from $888.00) on shares of Meta Platforms in a research note on Tuesday. The Goldman Sachs Group raised their target price on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company raised their target price on Meta Platforms from $783.00 to $811.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $822.41.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 60,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the completion of the sale, the insider directly owned 237,205 shares in the company, valued at $184,059,219.75. This represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 515 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $776.38, for a total transaction of $399,835.70. Following the sale, the insider owned 25,035 shares of the company's stock, valued at approximately $19,436,673.30. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 260,024 shares of company stock valued at $188,466,159. Corporate insiders own 13.61% of the company's stock.

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.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.