GR Financial Group LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 491.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,135 shares of the social networking company's stock after acquiring an additional 5,098 shares during the quarter. Meta Platforms comprises approximately 0.5% of GR Financial Group LLC's portfolio, making the stock its 4th biggest holding. GR Financial Group LLC's holdings in Meta Platforms were worth $3,536,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Suvretta Capital Management LLC lifted its holdings 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 worth $99,735,000 after acquiring an additional 1,850 shares during the period. Skye Global Management LP boosted its position 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 purchasing an additional 43,200 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in Meta Platforms by 255.9% in the 4th 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 acquiring an additional 1,229,350 shares during the period. Fisher Asset Management LLC boosted its holdings in Meta Platforms by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after acquiring an additional 110,040 shares during the period. Finally, Quantinno Capital Management LP increased its position in shares of Meta Platforms by 25.1% during the fourth quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock worth $215,760,000 after acquiring an additional 73,907 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Jefferies Financial Group dropped their target price 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. JMP Securities reissued a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Loop Capital raised their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Wedbush raised their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Morgan Stanley raised their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $719.29.
View Our Latest Stock Report on META
Meta Platforms Trading Up 0.5%
Shares of NASDAQ:META opened at $716.91 on Friday. The firm has a fifty day moving average of $658.89 and a two-hundred day moving average of $630.04. The firm has a market capitalization of $1.80 trillion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90. 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 (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, beating analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $4.71 EPS. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.
Insider Activity at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total transaction of $382,503.00. Following the transaction, the insider directly owned 27,626 shares of the company's stock, valued at $20,360,362. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 154,285 shares of company stock valued at $105,518,153. Insiders own 13.61% of the company's stock.
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.
Further Reading
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