CFM Wealth Partners LLC Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

CFM Wealth Partners LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,448 shares of the social networking company's stock after purchasing an additional 1,092 shares during the quarter. Meta Platforms makes up approximately 2.6% of CFM Wealth Partners LLC's holdings, making the stock its 8th biggest position. CFM Wealth Partners LLC's holdings in Meta Platforms were worth $14,667,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Suvretta Capital Management LLC grew its stake in shares of 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 valued at $99,735,000 after acquiring an additional 1,850 shares during the period. Skye Global Management LP raised its stake in Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after acquiring an additional 43,200 shares during the period. Brueske Advisory Services LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $459,000. Kovitz Investment Group Partners LLC boosted its position in shares of Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after purchasing an additional 1,229,350 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after purchasing an additional 110,040 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Meta Platforms Trading Down 0.8%

NASDAQ:META traded down $5.65 during mid-day trading on Wednesday, hitting $713.57. 9,315,187 shares of the stock traded hands, compared to its average volume of 14,534,414. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The stock has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.81 and a beta of 1.28. The firm's 50 day moving average is $647.96 and its two-hundred day moving average is $627.91.

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 firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 earnings per share. The company's quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $704.89, for a total transaction of $365,837.91. Following the completion of the sale, the insider directly owned 28,145 shares of the company's stock, valued at approximately $19,839,129.05. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 517 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $683.47, for a total transaction of $353,353.99. Following the completion of the transaction, the chief operating officer owned 8,370 shares in the company, valued at approximately $5,720,643.90. The trade was a 5.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,095 shares of company stock worth $93,076,345. 13.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on META shares. Royal Bank Of Canada restated an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. Jefferies Financial Group lowered their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Moffett Nathanson upped their price objective on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Pivotal Research decreased their target price on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital upped their price target on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $719.29.

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.