Davidson Trust Co. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 69.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,255 shares of the social networking company's stock after buying an additional 515 shares during the period. Davidson Trust Co.'s holdings in Meta Platforms were worth $723,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Opulen Financial Group LLC acquired a new stake in Meta Platforms in the 4th quarter valued at $325,000. Brighton Jones LLC increased its holdings in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after purchasing an additional 875 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in Meta Platforms by 5.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock valued at $1,989,000 after purchasing an additional 178 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its holdings in Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after purchasing an additional 7,587 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Stock Performance
META opened at $718.35 on Tuesday. The business's 50 day moving average is $662.26 and its 200-day moving average is $631.21. The stock has a market cap of $1.81 trillion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating 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 business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the business earned $4.71 earnings per share. The business's revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio is presently 8.19%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on META. UBS Group restated a "buy" rating and set a $812.00 target price (up from $683.00) on shares of Meta Platforms in a research note on Thursday, June 26th. Royal Bank Of Canada restated an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. Jefferies Financial Group lowered their target price on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Benchmark lowered their target price on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Oppenheimer raised their target price on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Five equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $719.29.
View Our Latest Stock Analysis on META
Insider Activity at Meta Platforms
In related news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were 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 in the company, valued at $82,928,955.27. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,756 shares of company stock worth $104,720,878 over the last quarter. 13.61% of the stock is currently owned by company insiders.
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
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).
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