Signal Advisors Wealth LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,940 shares of the social networking company's stock after buying an additional 950 shares during the period. Signal Advisors Wealth LLC's holdings in Meta Platforms were worth $2,847,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter valued at $19,949,512,000. GAMMA Investing LLC lifted its position in Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after acquiring an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC lifted its position in Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after acquiring an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new position in Meta Platforms in the 4th quarter valued at about $2,243,603,000. Finally, Northern Trust Corp lifted its position in Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after acquiring an additional 2,787,832 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Analysts Set New Price Targets
META has been the subject of several recent analyst reports. Scotiabank reduced their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. Guggenheim upped their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Bank of America upped their target price on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Loop Capital increased their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $702.48.
Get Our Latest Stock Report on Meta Platforms
Insider Transactions at Meta Platforms
In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the sale, the chief technology officer now owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. This trade represents a 23.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $595.00, for a total value of $547,995.00. Following the sale, the insider now directly owns 33,024 shares in the company, valued at $19,649,280. This trade represents a 2.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,025 shares of company stock valued at $35,818,237. 13.61% of the stock is currently owned by insiders.
Meta Platforms Stock Performance
META traded down $3.65 during trading on Monday, hitting $694.06. The company's stock had a trading volume of 12,323,140 shares, compared to its average volume of 14,524,302. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a market cap of $1.75 trillion, a PE ratio of 29.02, a P/E/G ratio of 1.42 and a beta of 1.26. The business's 50 day simple moving average is $587.67 and its 200-day simple moving average is $615.55.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.71 earnings per share. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.
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.
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