Meta Platforms, Inc. (NASDAQ:META) Position Increased by J.Safra Asset Management Corp

J.Safra Asset Management Corp increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 73.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,652 shares of the social networking company's stock after buying an additional 1,964 shares during the quarter. Meta Platforms accounts for 0.2% of J.Safra Asset Management Corp's portfolio, making the stock its 29th largest position. J.Safra Asset Management Corp's holdings in Meta Platforms were worth $2,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Opulen Financial Group LLC bought a new stake in Meta Platforms in the 4th quarter worth $325,000. Brighton Jones LLC raised its stake in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of 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 worth $5,537,000 after purchasing an additional 875 shares during the period. SOA Wealth Advisors LLC. grew its stake in shares of Meta Platforms by 5.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock worth $1,989,000 after purchasing an additional 178 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its holdings in Meta Platforms by 3.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after purchasing an additional 7,587 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial increased their price objective on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Bank of America upped their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. JMP Securities reissued a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. TD Securities cut their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Five research analysts have rated the stock with 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, Meta Platforms presently has an average rating of "Moderate Buy" and an average price target of $719.29.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $740.97, for a total transaction of $383,081.49. Following the transaction, the chief operating officer directly owned 7,853 shares in the company, valued at approximately $5,818,837.41. The trade was a 6.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 2,361 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The disclosure for this sale can be found here. Insiders have sold a total of 154,285 shares of company stock valued at $105,518,153 over the last quarter. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Trading Up 0.5%

Meta Platforms stock traded up $3.34 during trading on Friday, hitting $716.91. The company's stock had a trading volume of 8,601,653 shares, compared to its average volume of 14,572,054. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The stock's fifty day moving average is $658.89 and its 200 day moving average is $629.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.76 and a beta of 1.28.

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 analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business 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 firm earned $4.71 earnings per share. The business's revenue 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 Dividend Announcement

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

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.