Townsquare Capital LLC raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,812 shares of the social networking company's stock after acquiring an additional 14,215 shares during the period. Meta Platforms makes up approximately 1.0% of Townsquare Capital LLC's holdings, making the stock its 15th biggest holding. Townsquare Capital LLC's holdings in Meta Platforms were worth $93,840,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in shares of Meta Platforms during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Meta Platforms during the first quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Meta Platforms during the first quarter worth $33,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth $45,000. Finally, JCIC Asset Management Inc. lifted its stake in shares of Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after buying an additional 40 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Stock Performance
META opened at $790.00 on Wednesday. The firm has a market capitalization of $1.98 trillion, a PE ratio of 28.60, a PEG ratio of 1.59 and a beta of 1.27. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $793.67. The firm's 50-day moving average price is $718.89 and its 200 day moving average price is $653.09. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. Meta Platforms's quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the business posted $5.16 earnings per share. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is presently 7.60%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on META. Hsbc Global Res upgraded shares of Meta Platforms from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 31st. UBS Group upped their price target on shares of Meta Platforms from $812.00 to $897.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday, July 3rd. Sanford C. Bernstein upped their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Roth Capital upped their price target on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $822.41.
Check Out Our Latest Report on Meta Platforms
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 15,847 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer directly owned 1,183 shares of the company's stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 289,356 shares of company stock worth $211,138,344 in the last ninety days. 13.61% of the stock is owned by insiders.
Meta Platforms Profile
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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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