Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Savvy Advisors Inc.

Savvy Advisors Inc. increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 30.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,536 shares of the social networking company's stock after buying an additional 2,464 shares during the period. Savvy Advisors Inc.'s holdings in Meta Platforms were worth $6,073,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Meta Platforms during the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms in the 1st quarter valued at approximately $33,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $45,000. Finally, JCIC Asset Management Inc. lifted its position in shares of Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after purchasing an additional 40 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 15,847 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $765.11, for a total transaction of $12,124,698.17. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $760.26, for a total transaction of $393,054.42. Following the transaction, the chief operating officer directly owned 5,268 shares of the company's stock, valued at approximately $4,005,049.68. This represents a 8.94% decrease in their ownership of the stock. 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 quarter. Company insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Monness Crespi & Hardt raised their price target on Meta Platforms from $780.00 to $860.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Stifel Nicolaus boosted their target price on Meta Platforms from $845.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Raymond James Financial increased their price target on shares of Meta Platforms from $750.00 to $900.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. UBS Group boosted their price objective on shares of Meta Platforms from $812.00 to $897.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, HSBC raised shares of Meta Platforms from a "hold" rating to a "buy" rating and increased their target price for the company from $610.00 to $900.00 in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $822.41.

Meta Platforms Trading Down 0.4%

META opened at $765.87 on Tuesday. The firm has a market capitalization of $1.92 trillion, a P/E ratio of 27.73, a P/E/G ratio of 1.60 and a beta of 1.27. The firm's 50 day moving average is $716.43 and its 200-day moving average is $652.13. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $784.75. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm's quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.16 EPS. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 7.60%.

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.

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