Compound Global Advisors LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 29.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,684 shares of the social networking company's stock after selling 716 shares during the quarter. Meta Platforms comprises about 5.4% of Compound Global Advisors LLC's holdings, making the stock its 3rd biggest holding. Compound Global Advisors LLC's holdings in Meta Platforms were worth $922,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of META. Opulen Financial Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $325,000. Brighton Jones LLC grew its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Meta Platforms by 10.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after purchasing an additional 875 shares during the period. SOA Wealth Advisors LLC. grew its holdings in shares of Meta Platforms by 5.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock valued at $1,989,000 after purchasing an additional 178 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its holdings in shares of Meta Platforms by 3.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after purchasing an additional 7,587 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Activity at Meta Platforms
In related news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer owned 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,677 shares of company stock worth $105,221,340 in the last three months. Insiders own 13.61% of the company's stock.
Meta Platforms Stock Performance
Shares of META traded down $0.66 during mid-day trading on Monday, reaching $718.35. 9,436,254 shares of the company's stock were exchanged, compared to its average volume of 14,524,385. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market capitalization of $1.81 trillion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The business's fifty day simple moving average is $658.89 and its 200-day simple moving average is $630.28. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for 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 company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $4.71 earnings per share. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.
Analysts Set New Price Targets
A number of research analysts have commented on META shares. Scotiabank decreased their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group upped 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. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. UBS Group reaffirmed a "buy" rating and issued a $812.00 target price (up previously from $683.00) on shares of Meta Platforms in a research report on Thursday, June 26th. Finally, 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 report 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 issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $719.29.
Check Out Our Latest Stock Analysis on META
Meta Platforms Company Profile
(
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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