49 Wealth Management LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 51.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,432 shares of the social networking company's stock after purchasing an additional 488 shares during the period. 49 Wealth Management LLC's holdings in Meta Platforms were worth $825,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in META. Inlight Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at about $28,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at about $45,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Stock Performance
NASDAQ META traded down $9.73 during mid-day trading on Friday, reaching $717.51. 10,855,962 shares of the stock were exchanged, compared to its average volume of 14,460,014. The business's 50 day moving average is $674.77 and its 200-day moving average is $634.35. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90. The company has a market capitalization of $1.80 trillion, a P/E ratio of 27.98, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the firm posted $4.71 earnings per share. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. TD Cowen boosted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a report on Wednesday. Roth Capital boosted their price target on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. UBS Group restated a "buy" rating and issued a $812.00 price target (up previously from $683.00) on shares of Meta Platforms in a report on Thursday, June 26th. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Loop Capital boosted their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $729.38.
Read Our Latest Stock Analysis on Meta Platforms
Insiders Place Their Bets
In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares of the company's stock, valued at $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,792 shares of company stock worth $105,466,325. Company insiders own 13.61% of the company's stock.
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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