Bar Harbor Wealth Management boosted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,682 shares of the social networking company's stock after buying an additional 1,313 shares during the quarter. Bar Harbor Wealth Management's holdings in Meta Platforms were worth $3,851,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the 4th quarter valued at about $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC increased its stake in shares of Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Meta Platforms
In related news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.00, for a total transaction of $363,819.00. Following the sale, the insider now directly owns 29,183 shares in the company, valued at $20,457,283. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,201 shares of company stock valued at $56,377,837. 13.61% of the stock is owned by insiders.
Meta Platforms Stock Down 1.5%
Shares of Meta Platforms stock traded down $10.49 on Friday, hitting $682.87. 9,259,272 shares of the company traded hands, compared to its average volume of 14,501,078. The company has a market cap of $1.72 trillion, a PE ratio of 28.55, a PEG ratio of 1.42 and a beta of 1.26. The company has a 50-day moving average price of $604.07 and a 200 day moving average price of $619.26. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its 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. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $4.71 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio is currently 8.19%.
Analysts Set New Price Targets
META has been the subject of a number of research reports. Pivotal Research reduced their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Raymond James decreased their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a report on Thursday, May 1st. Oppenheimer upped their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Susquehanna lowered their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $704.26.
Check Out Our Latest Report on META
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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