Round Rock Advisors LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 55.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,820 shares of the social networking company's stock after purchasing an additional 1,003 shares during the quarter. Round Rock Advisors LLC's holdings in Meta Platforms were worth $1,625,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of META. Inlight Wealth Management LLC purchased a new stake in shares of Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms in the 1st quarter valued at $28,000. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Insider Buying and Selling
In related news, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total transaction of $374,494.83. Following the sale, the insider owned 27,107 shares of the company's stock, valued at approximately $19,559,597.99. The trade was a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,263 shares of company stock worth $104,638,750. Insiders own 13.61% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on META shares. Roth Capital upped their price objective 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. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a report on Thursday, May 1st. Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Loop Capital lifted their price objective 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. Finally, Pivotal Research lowered their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average price target of $729.38.
Check Out Our Latest Research Report on META
Meta Platforms Stock Performance
NASDAQ:META opened at $720.92 on Tuesday. The company's 50-day moving average price is $677.20 and its 200-day moving average price is $635.41. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.81 trillion, a P/E ratio of 28.12, a P/E/G ratio of 1.76 and a beta of 1.28. 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 results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate 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 39.11% and a return on equity of 38.69%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $4.71 earnings per share. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.
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.
See Also
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