Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Fox Hill Wealth Management

Key Points

• Fox Hill Wealth Management increased its holdings in Meta Platforms by 4.6%, making it the 8th largest position in their portfolio, with a total investment of approximately $4.4 million.
• Insider trading activity includes Christopher K. Cox selling 60,000 shares for over $46 million, while Mark Zuckerberg sold 15,847 shares valued at nearly $12 million, which collectively contributed to a total of 269,243 shares sold by insiders in recent months.
• Several analysts upgraded Meta's target prices, with UBS raising it from $812 to $897 and Citizens JMP adjusting it from $750 to $900, indicating a strong consensus rating of "Moderate Buy" among analysts.

Fox Hill Wealth Management raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,624 shares of the social networking company's stock after acquiring an additional 335 shares during the quarter. Meta Platforms makes up about 2.6% of Fox Hill Wealth Management's holdings, making the stock its 8th biggest holding. Fox Hill Wealth Management's holdings in Meta Platforms were worth $4,394,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Meta Platforms in the 1st quarter valued at $33,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at $45,000. Finally, JCIC Asset Management Inc. raised its position in Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 1,037 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $785.18, for a total transaction of $814,231.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher K. Cox sold 15,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $767.80, for a total transaction of $11,517,000.00. Following the sale, the insider directly owned 222,205 shares in the company, valued at $170,608,999. This represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,243 shares of company stock valued at $200,605,051 over the last quarter. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

NASDAQ META traded up $3.10 during trading hours on Friday, reaching $785.23. The company's stock had a trading volume of 13,361,371 shares, compared to its average volume of 12,931,265. The stock has a market cap of $1.97 trillion, a PE ratio of 28.43, a PEG ratio of 1.63 and a beta of 1.27. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company's 50-day moving average is $724.43 and its two-hundred day moving average is $655.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The company had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. During the same period last 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. Analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 7.60%.

Wall Street Analysts Forecast Growth

META has been the subject of several research reports. Hsbc Global Res upgraded shares of Meta Platforms from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 31st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $920.00 price target on shares of Meta Platforms in a research report on Wednesday. Moffett Nathanson upped their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company upped their price target on shares of Meta Platforms from $783.00 to $811.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Truist Financial upped their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and an average price target of $822.41.

About Meta Platforms

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.