McClarren Financial Advisors Inc. Has $467,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

McClarren Financial Advisors Inc. raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 155.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 811 shares of the social networking company's stock after buying an additional 494 shares during the period. McClarren Financial Advisors Inc.'s holdings in Meta Platforms were worth $467,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Csenge Advisory Group boosted its holdings in shares of Meta Platforms by 12.0% during the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company's stock worth $5,498,000 after acquiring an additional 1,019 shares during the period. Suvretta Capital Management LLC lifted its holdings in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after purchasing an additional 1,850 shares during the last quarter. Skye Global Management LP boosted its stake in Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after purchasing an additional 43,200 shares during the period. ARQ Wealth Advisors LLC boosted its stake in Meta Platforms by 4.5% in the 1st quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company's stock valued at $452,000 after purchasing an additional 34 shares during the period. Finally, JMG Financial Group Ltd. acquired a new position in Meta Platforms in the 1st quarter valued at $284,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on META shares. Scotiabank lifted their target price on Meta Platforms from $675.00 to $685.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Guggenheim reiterated a "buy" rating and issued a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research note on Monday, July 28th. Citigroup restated an "outperform" rating on shares of Meta Platforms in a research report on Thursday, July 31st. JMP Securities raised their target price on shares of Meta Platforms from $750.00 to $900.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Finally, Canaccord Genuity Group lifted their price target on shares of Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $822.41.

Meta Platforms Price Performance

META stock opened at $769.30 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.93 trillion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.58 and a beta of 1.27. The company's fifty day simple moving average is $714.53 and its 200 day simple moving average is $651.01. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The company had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. During the same quarter in the prior year, the company earned $5.16 EPS. The firm's revenue for the quarter was up 21.6% compared to the same quarter last year. On average, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given 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 0.3%. Meta Platforms's dividend payout ratio (DPR) is 7.60%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 15,847 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $768.67, for a total transaction of $12,181,113.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $760.26, for a total value of $393,054.42. Following the completion of the sale, the chief operating officer owned 5,268 shares of the company's stock, valued at approximately $4,005,049.68. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,024 shares of company stock worth $199,983,159. Corporate insiders own 13.61% of the company's stock.

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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