Narwhal Capital Management raised its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,845 shares of the social networking company's stock after purchasing an additional 1,023 shares during the quarter. Meta Platforms accounts for about 2.3% of Narwhal Capital Management's investment portfolio, making the stock its 10th largest position. Narwhal Capital Management's holdings in Meta Platforms were worth $25,847,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of META. Fjell Capital LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $1,836,000. Opulen Financial Group LLC purchased a new position in Meta Platforms during the fourth quarter valued at $325,000. Daner Wealth Management LLC bought a new stake in Meta Platforms in the 4th quarter valued at $334,000. Brighton Jones LLC lifted its stake in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Meta Platforms during the fourth quarter valued at about $112,406,000. 79.91% of the stock is currently owned by institutional investors.
Meta Platforms Trading Up 2.5%
Meta Platforms stock traded up $17.41 during trading on Thursday, reaching $726.09. 13,926,467 shares of the company were exchanged, compared to its average volume of 14,486,351. The stock's 50 day simple moving average is $629.38 and its two-hundred day simple moving average is $624.96. The company has a market capitalization of $1.83 trillion, a P/E ratio of 28.32, a PEG ratio of 1.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.71 earnings per share. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.
Insider Activity
In related news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total value of $525,577.86. Following the completion of the sale, the insider now owns 30,261 shares in the company, valued at approximately $17,268,742.26. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $563.03, for a total value of $342,322.24. Following the transaction, the chief operating officer now owns 6,230 shares of the company's stock, valued at approximately $3,507,676.90. This represents a 8.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,312 shares of company stock valued at $83,503,034 in the last quarter. Insiders own 13.61% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on META. TD Securities decreased their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wedbush raised their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company reaffirmed an "overweight" rating and set a $664.00 price target on shares of Meta Platforms in a research note on Tuesday, June 17th. DA Davidson decreased their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms 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 given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $715.76.
Check Out Our Latest Stock Report on Meta Platforms
About Meta Platforms
(
Free Report)
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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