Bartlett & CO. Wealth Management LLC Grows Holdings in Meta Platforms, Inc. (NASDAQ:META)

Bartlett & CO. Wealth Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,465 shares of the social networking company's stock after purchasing an additional 7,119 shares during the quarter. Meta Platforms accounts for approximately 1.2% of Bartlett & CO. Wealth Management LLC's holdings, making the stock its 24th biggest position. Bartlett & CO. Wealth Management LLC's holdings in Meta Platforms were worth $84,417,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Fjell Capital LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $325,000. Daner Wealth Management LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $334,000. Brighton Jones LLC grew its stake in shares of Meta Platforms by 1.7% during 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 during the period. Finally, Revolve Wealth Partners LLC grew its stake in shares of Meta Platforms by 10.2% during 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 during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Trading Down 2.6%

NASDAQ:META traded down $18.87 during midday trading on Tuesday, hitting $719.22. 13,399,510 shares of the company traded hands, compared to its average volume of 14,538,360. The firm's fifty day moving average is $643.58 and its 200-day moving average is $627.27. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90. The firm has a market capitalization of $1.81 trillion, a P/E ratio of 28.05, a P/E/G ratio of 1.80 and a beta of 1.26. 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 (NASDAQ:META - Get Free Report) last released its quarterly 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 quarter in the prior year, the firm posted $4.71 EPS. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared 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 0.29%. Meta Platforms's payout ratio is presently 8.19%.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $683.47, for a total value of $353,353.99. Following the sale, the chief operating officer owned 8,370 shares in the company, valued at $5,720,643.90. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $704.89, for a total value of $365,837.91. Following the completion of the sale, the insider owned 28,145 shares in the company, valued at approximately $19,839,129.05. The trade was a 1.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,095 shares of company stock worth $93,076,345. 13.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on META shares. 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. Oppenheimer boosted their price target on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. The Goldman Sachs Group boosted their price target on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Guggenheim boosted their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, UBS Group reissued a "buy" rating and issued a $812.00 target price (up from $683.00) on shares of Meta Platforms in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $719.52.

About Meta Platforms

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.