J. Safra Sarasin Holding AG cut its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,027 shares of the social networking company's stock after selling 4,540 shares during the period. Meta Platforms accounts for 1.4% of J. Safra Sarasin Holding AG's holdings, making the stock its 19th biggest holding. J. Safra Sarasin Holding AG's holdings in Meta Platforms were worth $74,943,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Inlight Wealth Management LLC bought a new stake in Meta Platforms in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms in the 1st quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Meta Platforms during the first quarter worth approximately $33,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $45,000. Finally, JCIC Asset Management Inc. grew its stake 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 in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Stock Performance
META traded up $7.47 on Friday, reaching $769.30. The stock had a trading volume of 7,308,601 shares, compared to its average volume of 15,494,221. The business's 50-day moving average price is $711.99 and its two-hundred day moving average price is $649.96. The company has a market cap of $1.93 trillion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $784.75. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. Meta Platforms's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.16 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is presently 7.60%.
Insider Activity at Meta Platforms
In related news, 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 completion of the transaction, the insider owned 25,035 shares in the company, valued at $19,436,673.30. This represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher K. Cox sold 60,000 shares of the firm'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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 260,024 shares of company stock worth $188,466,159 in the last quarter. 13.61% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on META. DA Davidson increased their price target on Meta Platforms from $650.00 to $825.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. TD Securities dropped their target price 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. Wells Fargo & Company upped their price target on shares of Meta Platforms from $783.00 to $811.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Cantor Fitzgerald lifted their price objective on shares of Meta Platforms from $828.00 to $920.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, Pivotal Research boosted their price objective on shares of Meta Platforms from $830.00 to $930.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $822.41.
Get Our Latest Report on Meta Platforms
Meta Platforms Company Profile
(
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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