Left Brain Wealth Management LLC Has $13.12 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Left Brain Wealth Management LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 22,757 shares of the social networking company's stock after selling 1,073 shares during the quarter. Meta Platforms comprises about 5.7% of Left Brain Wealth Management LLC's portfolio, making the stock its 2nd biggest holding. Left Brain Wealth Management LLC's holdings in Meta Platforms were worth $13,116,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of META. Brighton Jones LLC raised its holdings in shares of Meta Platforms by 1.7% during the 4th 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 in the last quarter. Revolve Wealth Partners LLC raised 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 worth $5,537,000 after buying an additional 875 shares in the last quarter. Bank Pictet & Cie Europe AG raised 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 worth $129,666,000 after buying 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 purchasing an additional 218 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Meta Platforms in the 4th quarter worth about $2,243,603,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Down 0.2%

Shares of NASDAQ:META opened at $701.41 on Friday. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The business's 50 day simple moving average is $683.85 and its two-hundred day simple moving average is $637.15. The firm has a market cap of $1.76 trillion, a P/E ratio of 27.36, a PEG 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the business posted $4.71 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date 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%.

Insiders Place Their Bets

In related news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction on 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 sale, the chief technology officer directly owned 1,183 shares of the company's stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, the chief executive officer owned 118,279 shares of the company's stock, valued at approximately $82,928,955.27. The trade was 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 valued at $105,721,208. Insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on META shares. Citigroup reaffirmed a "buy" rating on shares of Meta Platforms in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Meta Platforms from $735.00 to $795.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Morgan Stanley upped their target price on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a 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 report on Wednesday, April 30th. Finally, Roth Capital upped their target price on Meta Platforms from $620.00 to $740.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $736.05.

Meta Platforms 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.

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