Bogart Wealth LLC Has $11.87 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Bogart Wealth LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,586 shares of the social networking company's stock after selling 4,117 shares during the quarter. Bogart Wealth LLC's holdings in Meta Platforms were worth $11,865,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of META. Inlight Wealth Management LLC bought a new position in Meta Platforms in the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Meta Platforms during the first quarter valued at approximately $28,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Raymond James Financial dropped their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. TD Cowen increased their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Moffett Nathanson increased their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday, July 3rd. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two 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 $736.05.

Meta Platforms Stock Up 0.4%

Shares of NASDAQ:META traded up $2.87 during trading hours on Friday, reaching $704.28. The stock had a trading volume of 12,743,944 shares, compared to its average volume of 14,336,421. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90. The firm's 50 day moving average is $686.09 and its 200-day moving average is $637.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.72 and a beta of 1.28.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.

Insider Activity

In other news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer owned 70,040 shares of the company's stock, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,764 shares of company stock valued at $105,721,208 over the last 90 days. Insiders own 13.61% of the company's stock.

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.