Arcus Capital Partners LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,196 shares of the social networking company's stock after selling 464 shares during the quarter. Arcus Capital Partners LLC's holdings in Meta Platforms were worth $1,266,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Valley Financial Group Inc. lifted its holdings in Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC lifted its holdings in Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after buying an additional 14 shares in the last quarter. Maiden Cove Capital LLC lifted its holdings in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after buying an additional 15 shares in the last quarter. Riverwater Partners LLC lifted its holdings in Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after buying an additional 15 shares in the last quarter. Finally, ABLE Financial Group LLC lifted its holdings in Meta Platforms by 0.7% in the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Insider Transactions at Meta Platforms
In other news, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $721.57, for a total value of $374,494.83. Following the completion of the sale, the insider directly owned 27,107 shares of the company's stock, valued at approximately $19,559,597.99. This represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The disclosure for this sale can be found here. In the last three months, insiders sold 152,263 shares of company stock valued at $104,638,750. Company insiders own 13.61% of the company's stock.
Wall Street Analysts Forecast Growth
META has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. KeyCorp upped their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Pivotal Research cut their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Wedbush upped their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $729.38.
Read Our Latest Stock Report on META
Meta Platforms Trading Up 0.5%
Shares of NASDAQ:META opened at $720.92 on Tuesday. The company has a 50 day moving average of $677.20 and a 200-day moving average of $635.41. The firm has a market cap of $1.81 trillion, a P/E ratio of 28.12, a P/E/G ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates 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 business posted $4.71 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis 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 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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