Private Advisor Group LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 134,130 shares of the social networking company's stock after buying an additional 2,779 shares during the period. Private Advisor Group LLC's holdings in Meta Platforms were worth $77,307,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms in the first quarter worth approximately $28,000. Millstone Evans Group LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the fourth quarter worth approximately $45,000. Institutional investors own 79.91% of the company's stock.
Insider Activity
In other news, CFO Susan J. Li sold 6,874 shares of the company'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 $4,532,440.64. Following the sale, the chief financial officer owned 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the sale, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,473 shares of company stock valued at $105,805,440 in the last quarter. 13.61% of the stock is currently owned by company insiders.
Meta Platforms Trading Down 0.3%
Shares of NASDAQ:META traded down $2.12 during trading hours on Friday, hitting $712.68. 8,253,539 shares of the company's stock traded hands, compared to its average volume of 10,556,341. Meta Platforms, Inc. has a 1 year low of $450.80 and a 1 year high of $747.90. The business has a fifty day moving average price of $692.48 and a 200-day moving average price of $641.78. The firm has a market capitalization of $1.79 trillion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. 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 (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 analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 earnings per share. Equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share 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 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 (DPR) is presently 8.19%.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Barclays cut their price target on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $740.00 price target on shares of Meta Platforms in a report on Thursday, May 1st. Wells Fargo & Company increased their price target on Meta Platforms from $664.00 to $783.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Raymond James Financial lowered their price objective on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research note on Thursday, May 1st. Finally, Jefferies Financial Group lowered their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $752.33.
Get Our Latest Analysis on META
Meta Platforms Company Profile
(
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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