Moss Adams Wealth Advisors LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,580 shares of the social networking company's stock after acquiring an additional 1,413 shares during the period. Meta Platforms comprises approximately 0.6% of Moss Adams Wealth Advisors LLC's holdings, making the stock its 19th largest position. Moss Adams Wealth Advisors LLC's holdings in Meta Platforms were worth $5,522,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the 4th quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in Meta Platforms in the 4th quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC boosted its stake in shares of Meta Platforms by 53.6% during the 1st 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. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Stock Performance
Shares of NASDAQ:META traded up $8.34 during trading on Tuesday, hitting $702.40. 10,572,177 shares of the stock were exchanged, compared to its average volume of 14,509,543. The company has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company's fifty day simple moving average is $589.87 and its 200-day simple moving average is $616.49.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.71 earnings per share. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is 8.19%.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer now directly owns 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the completion of the transaction, the insider now directly owns 32,103 shares in the company, valued at $19,269,825.75. The trade was a 2.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,104 shares of company stock valued at $35,270,242. 13.61% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target 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. JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research report on Wednesday, April 30th. Pivotal Research cut their price target on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wedbush boosted their price target on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Citigroup increased their price objective on Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $702.48.
Read Our Latest Stock Report on META
Meta Platforms Company 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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