Meta Platforms, Inc. (NASDAQ:META) Shares Bought by FFG Partners LLC

FFG Partners LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,618 shares of the social networking company's stock after purchasing an additional 4,873 shares during the period. Meta Platforms comprises approximately 7.7% of FFG Partners LLC's investment portfolio, making the stock its 4th biggest holding. FFG Partners LLC's holdings in Meta Platforms were worth $18,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC raised its position in shares of Meta Platforms by 3.3% in the first quarter. HBK Sorce Advisory LLC now owns 20,187 shares of the social networking company's stock worth $11,635,000 after acquiring an additional 637 shares during the period. Pinnacle Bancorp Inc. raised its position in shares of Meta Platforms by 1.2% in the first quarter. Pinnacle Bancorp Inc. now owns 6,527 shares of the social networking company's stock worth $3,762,000 after acquiring an additional 80 shares during the period. Golden State Wealth Management LLC raised its position in shares of Meta Platforms by 151.1% in the first quarter. Golden State Wealth Management LLC now owns 12,198 shares of the social networking company's stock worth $7,032,000 after acquiring an additional 7,341 shares during the period. Aurora Private Wealth Inc. raised its position in shares of Meta Platforms by 1,622.5% in the first quarter. Aurora Private Wealth Inc. now owns 89,224 shares of the social networking company's stock worth $51,425,000 after acquiring an additional 84,044 shares during the period. Finally, MOKAN Wealth Management Inc. acquired a new position in shares of Meta Platforms in the first quarter worth about $214,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

META has been the subject of a number of analyst reports. Rosenblatt Securities upped their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company restated an "overweight" rating and set a $664.00 price target on shares of Meta Platforms in a research report on Tuesday, June 17th. Truist Financial upped their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Guggenheim upped their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $719.52.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 1,462 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the sale, the chief executive officer now directly owns 139,538 shares in the company, valued at $97,834,277.94. This represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $563.03, for a total transaction of $342,322.24. Following the sale, the chief operating officer now owns 6,230 shares in the company, valued at approximately $3,507,676.90. This trade represents a 8.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,831 shares of company stock worth $83,868,872. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $733.63 on Friday. The firm's 50 day moving average price is $638.51 and its 200-day moving average price is $626.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a market cap of $1.84 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.81 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS 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 analyst estimates of $41.45 billion. During the same period in the prior year, the business posted $4.71 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.

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.

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