Planning Alternatives Ltd. ADV raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 195.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,219 shares of the social networking company's stock after buying an additional 807 shares during the period. Planning Alternatives Ltd. ADV's holdings in Meta Platforms were worth $703,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC increased its position 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 valued at $20,230,000 after acquiring an additional 570 shares during the period. Revolve Wealth Partners LLC increased its position in 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 valued at $5,537,000 after acquiring an additional 875 shares during the period. Bank Pictet & Cie Europe AG increased its position in 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 valued at $129,666,000 after acquiring an additional 7,587 shares during the period. Highview Capital Management LLC DE increased its position in 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 valued at $3,624,000 after acquiring an additional 218 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Meta Platforms in the 4th quarter valued at about $2,243,603,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
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 stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction dated 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 completion of the sale, the chief technology officer directly owned 1,183 shares of the company's stock, valued at $753,393.55. This represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,263 shares of company stock worth $211,724,057 in the last three months. 13.61% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on META shares. Needham & Company LLC raised Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday, July 3rd. DA Davidson boosted their price target on Meta Platforms from $650.00 to $825.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. TD Securities decreased their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Loop Capital reaffirmed a "buy" rating and issued a $980.00 target price (up previously from $888.00) on shares of Meta Platforms in a research note on Tuesday, August 5th. Finally, Citizens Jmp upped their target price on Meta Platforms from $750.00 to $900.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $822.41.
Check Out Our Latest Stock Analysis on META
Meta Platforms Price Performance
Shares of META stock traded down $3.43 during mid-day trading on Monday, hitting $765.87. 7,597,659 shares of the stock traded hands, compared to its average volume of 15,441,953. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $784.75. The firm has a market cap of $1.92 trillion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. The company's 50-day simple moving average is $714.53 and its 200-day simple moving average is $651.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The company's quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $5.16 EPS. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is presently 7.60%.
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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