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Leavell Investment Management Inc. Raises Stake in Meta Platforms, Inc. (NASDAQ:META)

Meta Platforms logo with Computer and Technology background

Leavell Investment Management Inc. boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,363 shares of the social networking company's stock after acquiring an additional 575 shares during the period. Leavell Investment Management Inc.'s holdings in Meta Platforms were worth $6,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Brighton Jones LLC boosted its stake in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after purchasing an additional 875 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Meta Platforms by 3.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after purchasing an additional 7,587 shares in the last quarter. Highview Capital Management LLC DE increased its holdings 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 acquiring an additional 218 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in Meta Platforms by 38.0% in the 4th quarter. Proficio Capital Partners LLC now owns 10,972 shares of the social networking company's stock worth $6,424,000 after acquiring an additional 3,019 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $1.50 during mid-day trading on Thursday, hitting $701.41. 11,776,575 shares of the company were exchanged, compared to its average volume of 14,365,357. 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 stock has a 50 day simple moving average of $683.85 and a 200-day simple moving average of $637.15. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The firm has a market cap of $1.76 trillion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28.

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, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the company earned $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of the business'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 completion of the transaction, the chief financial officer owned 70,040 shares of the company's stock, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer directly owned 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,764 shares of company stock valued at $105,721,208. 13.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on META shares. Scotiabank dropped their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. Monness Crespi & Hardt upped 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. JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research report on Wednesday, April 30th. Benchmark cut their price target on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, TD Cowen upped their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average price target of $736.05.

View Our Latest Stock Analysis on META

Meta Platforms 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.

See Also

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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