Libra Wealth LLC Buys Shares of 481 Meta Platforms, Inc. (NASDAQ:META)

Libra Wealth LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 481 shares of the social networking company's stock, valued at approximately $277,000.

A number of other hedge funds have also added to or reduced their stakes in META. Opulen Financial Group LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $325,000. Brighton Jones LLC grew its holdings in Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after buying an additional 570 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in 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 buying an additional 875 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of Meta Platforms by 5.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock worth $1,989,000 after purchasing an additional 178 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its holdings in shares of Meta Platforms by 3.5% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of META stock opened at $716.91 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The stock has a 50 day moving average price of $658.89 and a two-hundred day moving average price of $629.81. The company has a market capitalization of $1.80 trillion, a P/E ratio of 27.96, a PEG ratio of 1.76 and a beta of 1.28.

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, 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 firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. The business's revenue was up 16.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insider Activity

In other news, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares of the company's stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. This trade represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,285 shares of company stock valued at $105,518,153. Company insiders own 13.61% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on META shares. Wells Fargo & Company reissued an "overweight" rating and set a $664.00 price objective on shares of Meta Platforms in a report on Tuesday, June 17th. Citigroup boosted their price objective on Meta Platforms from $690.00 to $803.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Piper Sandler reissued an "overweight" rating and set a $808.00 price objective (up previously from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Guggenheim boosted their price objective on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Rosenblatt Securities boosted their price objective on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $719.29.

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.

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