Parthenon LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 72,024 shares of the social networking company's stock after selling 1,900 shares during the quarter. Meta Platforms comprises about 5.1% of Parthenon LLC's holdings, making the stock its 3rd largest position. Parthenon LLC's holdings in Meta Platforms were worth $41,512,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tectonic Advisors LLC grew its stake in shares of Meta Platforms by 4.2% during the 1st quarter. Tectonic Advisors LLC now owns 3,436 shares of the social networking company's stock worth $1,980,000 after purchasing an additional 139 shares during the period. Violich Capital Management Inc. grew its stake in shares of Meta Platforms by 3.7% during the 1st quarter. Violich Capital Management Inc. now owns 4,510 shares of the social networking company's stock worth $2,599,000 after purchasing an additional 160 shares during the period. Sage Mountain Advisors LLC grew its stake in shares of Meta Platforms by 1.1% during the 1st quarter. Sage Mountain Advisors LLC now owns 17,273 shares of the social networking company's stock worth $9,955,000 after purchasing an additional 182 shares during the period. PAX Financial Group LLC grew its stake in shares of Meta Platforms by 5.7% during the 1st quarter. PAX Financial Group LLC now owns 3,352 shares of the social networking company's stock worth $1,932,000 after purchasing an additional 180 shares during the period. Finally, Wealthfront Advisers LLC grew its stake in shares of Meta Platforms by 5.2% during the 1st quarter. Wealthfront Advisers LLC now owns 306,416 shares of the social networking company's stock worth $176,606,000 after purchasing an additional 15,160 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 517 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $717.50, for a total transaction of $370,947.50. Following the completion of the sale, the chief operating officer directly owned 6,819 shares of the company's stock, valued at $4,892,632.50. This trade represents a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,764 shares of company stock worth $105,721,208 in the last quarter. Company insiders own 13.61% of the company's stock.
Meta Platforms Trading Up 0.4%
Shares of META stock traded up $2.87 during trading hours on Friday, hitting $704.28. 12,743,944 shares of the company were exchanged, compared to its average volume of 14,336,421. The firm has a market cap of $1.77 trillion, a PE ratio of 27.47, a PEG ratio of 1.72 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year 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. The firm has a fifty day moving average of $686.09 and a 200 day moving average of $638.34.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate 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 was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.71 EPS. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Piper Sandler reissued an "overweight" rating and issued a $808.00 price objective (up from $650.00) on shares of Meta Platforms in a research note on Friday, June 27th. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. TD Cowen increased their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, UBS Group reissued a "buy" rating and issued a $812.00 price objective (up from $683.00) on shares of Meta Platforms in a research note on Thursday, June 26th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $736.05.
Get Our Latest Analysis on META
About Meta Platforms
(
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.
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