Krilogy Financial LLC Buys 805 Shares of Meta Platforms, Inc. (NASDAQ:META)

Krilogy Financial LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,827 shares of the social networking company's stock after acquiring an additional 805 shares during the quarter. Krilogy Financial LLC's holdings in Meta Platforms were worth $10,851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Valley Financial Group Inc. grew its holdings in Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after purchasing an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC raised its position in Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after acquiring an additional 14 shares during the last quarter. Seelaus Asset Management LLC lifted its holdings in shares of Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after purchasing an additional 15 shares in the last quarter. Meredith Wealth Planning grew its position in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after purchasing an additional 15 shares during the last quarter. Finally, Maiden Cove Capital LLC increased its stake in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Meta Platforms Price Performance

META stock traded up $0.08 during trading on Wednesday, hitting $697.31. The company had a trading volume of 5,897,539 shares, compared to its average volume of 14,482,856. The business has a 50 day moving average of $610.13 and a 200 day moving average of $621.38. The firm has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 1.73 and a beta of 1.26. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91.

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, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the firm earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, March 24th. The stock was sold at an average price of $614.97, for a total transaction of $373,901.76. Following the transaction, the chief operating officer now owns 6,838 shares in the company, valued at approximately $4,205,164.86. The trade was a 8.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares of the company's stock, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,672 shares of company stock valued at $55,455,647 over the last three months. Company insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on META. Rosenblatt Securities lifted their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Guggenheim lifted their target price 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. Oppenheimer increased their price target on Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research note on Monday. Scotiabank decreased their price objective on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Finally, Roth Capital upped their target price on Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $710.00.

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.