Meta Platforms, Inc. (NASDAQ:META) Holdings Increased by Kathmere Capital Management LLC

Kathmere Capital Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 18.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,503 shares of the social networking company's stock after purchasing an additional 695 shares during the period. Kathmere Capital Management LLC's holdings in Meta Platforms were worth $2,595,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC grew its position in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the period. Bank Pictet & Cie Europe AG grew its position in Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after purchasing an additional 7,587 shares during the period. Highview Capital Management LLC DE grew its position in Meta Platforms by 3.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock worth $3,624,000 after purchasing an additional 218 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Meta Platforms in the 4th quarter worth approximately $2,243,603,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer directly owned 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the sale, the chief executive officer owned 118,279 shares in the company, valued at approximately $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,764 shares of company stock worth $105,721,208. 13.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on META shares. Jefferies Financial Group dropped their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Roth Capital lifted their price target on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Moffett Nathanson upped their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Barclays cut their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $828.00 price target (up from $807.00) on shares of Meta Platforms in a report on Wednesday. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $736.05.

Meta Platforms Trading Down 0.2%

Shares of Meta Platforms stock traded down $1.50 during trading hours on Thursday, hitting $701.41. The company's stock had a trading volume of 11,776,575 shares, compared to its average volume of 14,365,357. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. 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 company has a market capitalization of $1.76 trillion, a PE ratio of 27.36, a P/E/G ratio of 1.72 and a beta of 1.28. The business has a fifty day moving average of $681.78 and a 200 day moving average of $636.39.

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 for the quarter, topping the consensus estimate 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 analyst estimates of $41.45 billion. During the same period last year, the business earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms's payout ratio is currently 8.19%.

Meta Platforms Company 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.