Comprehensive Financial Planning Inc. PA boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,686 shares of the social networking company's stock after acquiring an additional 430 shares during the quarter. Meta Platforms accounts for approximately 4.9% of Comprehensive Financial Planning Inc. PA's investment portfolio, making the stock its 3rd biggest holding. Comprehensive Financial Planning Inc. PA's holdings in Meta Platforms were worth $5,006,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in META. Csenge Advisory Group raised its position in Meta Platforms by 12.0% in the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company's stock worth $5,498,000 after acquiring an additional 1,019 shares during the period. Suvretta Capital Management LLC raised its holdings in shares of Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP raised its holdings in shares of Meta Platforms by 130.9% in 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. ARQ Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 4.5% in the 1st quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company's stock worth $452,000 after purchasing an additional 34 shares during the period. Finally, JMG Financial Group Ltd. bought a new stake in shares of Meta Platforms in the 1st quarter worth approximately $284,000. Institutional investors own 79.91% of the company's stock.
Insider Activity
In related news, COO Javier Olivan sold 517 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $760.26, for a total value of $393,054.42. Following the sale, the chief operating officer directly owned 5,268 shares in the company, valued at approximately $4,005,049.68. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 515 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $776.38, for a total value of $399,835.70. Following the transaction, the insider owned 25,035 shares of the company's stock, valued at $19,436,673.30. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,263 shares of company stock valued at $211,724,057. 13.61% of the stock is currently owned by company insiders.
Meta Platforms Price Performance
Shares of NASDAQ META traded down $3.43 during midday trading on Monday, reaching $765.87. The stock had a trading volume of 7,597,659 shares, compared to its average volume of 15,441,953. The stock has a 50-day moving average of $714.53 and a 200-day moving average of $651.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $784.75.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The firm had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The company's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the company posted $5.16 earnings per share. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms's dividend payout ratio is 7.60%.
Wall Street Analysts Forecast Growth
META has been the topic of a number of research reports. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $780.00 to $860.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Loop Capital reiterated a "buy" rating and issued a $980.00 target price (up from $888.00) on shares of Meta Platforms in a research note on Tuesday, August 5th. Morgan Stanley upped their price target on shares of Meta Platforms from $750.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Rosenblatt Securities upped their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their target price on Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Four 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $822.41.
Read Our Latest Research Report on META
Meta Platforms Profile
(
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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