Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Harrell Investment Partners LLC

Harrell Investment Partners LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,104 shares of the social networking company's stock after purchasing an additional 484 shares during the quarter. Meta Platforms comprises about 1.6% of Harrell Investment Partners LLC's portfolio, making the stock its 25th biggest holding. Harrell Investment Partners LLC's holdings in Meta Platforms were worth $5,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in META. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the fourth quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms in the fourth quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC lifted its holdings in shares of Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after buying an additional 30 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Down 1.9%

Meta Platforms stock opened at $682.35 on Friday. The company has a market capitalization of $1.72 trillion, a P/E ratio of 26.61, a P/E/G ratio of 1.71 and a beta of 1.26. The firm's fifty day simple moving average is $618.10 and its 200-day simple moving average is $623.08. 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 1-year low of $442.65 and a 1-year high of $740.91.

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 for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the company earned $4.71 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Analyst Ratings Changes

Several brokerages have recently weighed in on META. Loop Capital upped their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. Pivotal Research cut their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Guggenheim increased their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Wedbush increased their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $710.00.

Insider Activity

In other news, CEO Mark Zuckerberg sold 2,753 shares of Meta Platforms stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $700.43, for a total value of $1,928,283.79. Following the transaction, the chief executive officer now directly owns 85,619 shares in the company, valued at approximately $59,970,116.17. The trade was a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $701.99, for a total value of $364,332.81. Following the completion of the transaction, the insider now owns 28,664 shares in the company, valued at $20,121,841.36. The trade was a 1.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,031 shares of company stock valued at $73,954,565 over the last 90 days. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Company Profile

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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