HBK Sorce Advisory LLC Buys 637 Shares of Meta Platforms, Inc. (NASDAQ:META)

HBK Sorce Advisory LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,187 shares of the social networking company's stock after purchasing an additional 637 shares during the quarter. Meta Platforms makes up about 0.3% of HBK Sorce Advisory LLC's holdings, making the stock its 29th largest position. HBK Sorce Advisory LLC's holdings in Meta Platforms were worth $11,635,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Meta Platforms during the fourth quarter worth $19,949,512,000. GAMMA Investing LLC lifted its holdings in Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares during the period. Proficio Capital Partners LLC lifted its holdings in Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after acquiring an additional 6,240,810 shares during the period. Raymond James Financial Inc. purchased a new stake in Meta Platforms in the fourth quarter worth $2,243,603,000. Finally, Northern Trust Corp increased its position in Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after buying an additional 2,787,832 shares during the last quarter. Institutional investors own 79.91% of the company's stock.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 5,057 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. The trade was a 23.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $563.03, for a total value of $342,322.24. Following the completion of the sale, the chief operating officer now directly owns 6,230 shares of the company's stock, valued at approximately $3,507,676.90. This trade represents a 8.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,831 shares of company stock valued at $83,868,872 over the last 90 days. Insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

NASDAQ:META traded up $7.54 during trading hours on Friday, hitting $733.63. 18,758,104 shares of the company's stock traded hands, compared to its average volume of 14,544,681. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The business's fifty day simple moving average is $638.51 and its two-hundred day simple moving average is $626.52. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week 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 1.79 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. The company's revenue was up 16.1% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. 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 (DPR) is currently 8.19%.

Analysts Set New Price Targets

META has been the subject of a number of recent research reports. Barclays decreased their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Roth Capital raised their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wedbush raised their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Morgan Stanley raised their target price on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, Scotiabank decreased their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have issued 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $719.52.

Meta Platforms Company 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.