Brighton Jones LLC Raises Stake in Meta Platforms, Inc. (NASDAQ:META)

Brighton Jones LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,296 shares of the social networking company's stock after acquiring an additional 4,745 shares during the quarter. Meta Platforms comprises approximately 0.7% of Brighton Jones LLC's portfolio, making the stock its 22nd biggest position. Brighton Jones LLC's holdings in Meta Platforms were worth $22,649,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fjell Capital LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at approximately $325,000. Daner Wealth Management LLC purchased a new position in Meta Platforms during the fourth quarter valued at $334,000. Union Bancaire Privee UBP SA purchased a new position in Meta Platforms during the fourth quarter valued at $112,406,000. Finally, Revolve Wealth Partners LLC raised its stake in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after buying an additional 875 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 7,802 shares of Meta Platforms stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $701.96, for a total value of $5,476,691.92. Following the completion of the transaction, the chief executive officer now owns 110,477 shares in the company, valued at approximately $77,550,434.92. The trade was a 6.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer now owns 1,183 shares of the company's stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,672 shares of company stock valued at $55,455,647. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

META traded down $1.46 during trading on Wednesday, hitting $695.77. 9,635,650 shares of the company traded hands, compared to its average volume of 14,501,970. The company has a market cap of $1.75 trillion, a PE ratio of 27.14, a P/E/G ratio of 1.72 and a beta of 1.26. The stock's 50-day simple moving average is $610.13 and its two-hundred day simple moving average is $621.38. 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, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91.

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. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.71 EPS. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on META shares. Roth Capital lifted their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Citigroup restated a "buy" rating on shares of Meta Platforms in a research note on Thursday, June 12th. Jefferies Financial Group decreased their target price on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. UBS Group boosted their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One investment 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $710.00.

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.