Legacy Wealth Management LLC MS bought a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,101 shares of the social networking company's stock, valued at approximately $2,940,000. Meta Platforms accounts for approximately 1.0% of Legacy Wealth Management LLC MS's investment portfolio, making the stock its 29th largest holding.
Other large investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth $47,000. Finally, Conquis Financial LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at about $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Activity
In other news, COO Javier Olivan sold 608 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares of the company's stock, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $635.41, for a total transaction of $329,777.79. Following the completion of the transaction, the insider now owns 30,221 shares of the company's stock, valued at $19,202,725.61. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,664 shares of company stock valued at $35,484,670. Company insiders own 13.61% of the company's stock.
Analyst Ratings Changes
META has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Monness Crespi & Hardt lifted their price target 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. BMO Capital Markets upped their price target on Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. Roth Capital raised their price objective on Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Oppenheimer boosted their target price on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $701.05.
Get Our Latest Research Report on Meta Platforms
Meta Platforms Trading Down 0.4%
Meta Platforms stock traded down $2.82 during midday trading on Friday, reaching $642.23. The stock had a trading volume of 16,230,863 shares, compared to its average volume of 14,491,179. The stock's 50-day simple moving average is $578.25 and its 200 day simple moving average is $610.43. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market capitalization of $1.61 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.
Meta Platforms (NASDAQ:META - Get Free Report) last issued 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 analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.71 EPS. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.
Meta Platforms Profile
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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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