Y.D. More Investments Ltd lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 21.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,156 shares of the social networking company's stock after purchasing an additional 6,767 shares during the period. Meta Platforms comprises about 1.9% of Y.D. More Investments Ltd's holdings, making the stock its 11th largest position. Y.D. More Investments Ltd's holdings in Meta Platforms were worth $21,990,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in META. Valley Financial Group Inc. lifted its stake in Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after buying an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC lifted its stake in Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after buying an additional 14 shares in the last quarter. ABLE Financial Group LLC lifted its stake in Meta Platforms by 0.7% in the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock valued at $1,251,000 after buying an additional 15 shares in the last quarter. Mosaic Family Wealth Partners LLC lifted its stake in Meta Platforms by 1.2% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock valued at $840,000 after buying an additional 17 shares in the last quarter. Finally, Orin Green Financial LLC lifted its stake in Meta Platforms by 2.2% in the 4th quarter. Orin Green Financial LLC now owns 795 shares of the social networking company's stock valued at $465,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Insider Transactions at Meta Platforms
In related news, CEO Mark Zuckerberg sold 15,847 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $765.11, for a total transaction of $12,124,698.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 517 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $760.26, for a total value of $393,054.42. Following the sale, the chief operating officer directly owned 5,268 shares in the company, valued at approximately $4,005,049.68. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 289,356 shares of company stock worth $211,138,344 in the last three months. 13.61% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Meta Platforms from $783.00 to $811.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Citigroup reaffirmed an "outperform" rating on shares of Meta Platforms in a research note on Thursday, July 31st. Royal Bank Of Canada boosted their price target on Meta Platforms from $740.00 to $840.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. TD Cowen boosted their price target on Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Citizens Jmp boosted their price target on Meta Platforms from $750.00 to $900.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $822.41.
View Our Latest Stock Analysis on META
Meta Platforms Stock Performance
META opened at $765.87 on Tuesday. The business's 50 day moving average is $716.43 and its 200-day moving average is $652.13. The stock has a market cap of $1.92 trillion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $784.75.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The company had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The business's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 earnings per share. On average, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The company also recently announced 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. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's payout ratio is presently 7.60%.
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.
See Also
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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