Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 124.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 94,478 shares of the social networking company's stock after purchasing an additional 52,455 shares during the quarter. Meta Platforms accounts for 1.0% of Kingsview Wealth Management LLC's portfolio, making the stock its 17th largest position. Kingsview Wealth Management LLC's holdings in Meta Platforms were worth $54,454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of 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 acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after acquiring an additional 875 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after acquiring an additional 7,587 shares during the last quarter. Highview Capital Management LLC DE grew its holdings in shares of Meta Platforms by 3.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock worth $3,624,000 after acquiring an additional 218 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Meta Platforms in the 4th quarter worth $2,243,603,000. Institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the sale, the chief executive officer owned 118,279 shares of the company's stock, valued at $82,928,955.27. This trade represents a 10.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $14,296,645.65. Following the completion of the sale, the chief technology officer directly owned 1,183 shares in the company, 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. In the last 90 days, insiders have sold 152,437 shares of company stock valued at $105,068,570. Insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on META shares. Rosenblatt Securities lifted their price objective on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Piper Sandler reaffirmed an "overweight" rating and issued a $808.00 price target (up previously from $650.00) on shares of Meta Platforms in a research report on Friday, June 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. TD Securities reduced their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Susquehanna reduced their price target on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued 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 target price of $738.37.

Meta Platforms Stock Up 1.2%

Meta Platforms stock opened at $712.97 on Tuesday. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The firm has a 50 day moving average price of $686.09 and a 200-day moving average price of $638.61. The company has a market capitalization of $1.79 trillion, a P/E ratio of 27.81, a P/E/G ratio of 1.72 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.71 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.