Meta Platforms, Inc. (NASDAQ:META) is Beverly Hills Private Wealth LLC's 10th Largest Position

Beverly Hills Private Wealth LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,300 shares of the social networking company's stock after buying an additional 352 shares during the period. Meta Platforms makes up 1.5% of Beverly Hills Private Wealth LLC's investment portfolio, making the stock its 10th biggest holding. Beverly Hills Private Wealth LLC's holdings in Meta Platforms were worth $7,666,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Valley Financial Group Inc. increased its position in Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after purchasing an additional 14 shares during the period. Lantern Wealth Advisors LLC increased its position in Meta Platforms by 0.5% during 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 purchasing an additional 14 shares during the period. Maiden Cove Capital LLC increased its position in Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares during the period. Riverwater Partners LLC increased its position in Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after purchasing an additional 15 shares during the period. Finally, ABLE Financial Group LLC increased its position in Meta Platforms by 0.7% during 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 purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $721.57, for a total transaction of $374,494.83. Following the sale, the insider directly owned 27,107 shares of the company's stock, valued at approximately $19,559,597.99. This trade represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,792 shares of company stock valued at $105,466,325. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded down $9.73 during trading on Friday, hitting $717.51. The company's stock had a trading volume of 10,855,962 shares, compared to its average volume of 14,480,953. The company has a 50-day moving average of $674.77 and a 200-day moving average of $634.17. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 1.78 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 EPS. The business's quarterly revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

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 $0.525 dividend. 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 dividend payout ratio is 8.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on META shares. Loop Capital boosted their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a research report 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. Citigroup upped their target price on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, Guggenheim upped their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research report 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $729.38.

Meta Platforms 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.