Meta Platforms, Inc. (NASDAQ:META) is Mmbg Investment Advisors CO.'s 6th Largest Position

Mmbg Investment Advisors CO. cut its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,050 shares of the social networking company's stock after selling 4,176 shares during the quarter. Meta Platforms makes up approximately 5.3% of Mmbg Investment Advisors CO.'s investment portfolio, making the stock its 6th largest holding. Mmbg Investment Advisors CO.'s holdings in Meta Platforms were worth $46,714,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Fjell Capital LLC purchased a new position in Meta Platforms during the 4th quarter worth $1,836,000. Opulen Financial Group LLC purchased a new stake in Meta Platforms in the fourth quarter valued at about $325,000. Brighton Jones LLC boosted its holdings in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after acquiring an additional 570 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after acquiring an additional 875 shares during the last quarter. Finally, SOA Wealth Advisors LLC. increased its holdings in shares of Meta Platforms by 5.5% during 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 acquiring an additional 178 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total value of $382,503.00. Following the completion of the sale, the insider owned 27,626 shares of the company's stock, valued at approximately $20,360,362. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,285 shares of company stock valued at $105,518,153. 13.61% of the stock is currently owned by insiders.

Meta Platforms Price Performance

META traded up $3.34 on Friday, hitting $716.91. 8,601,653 shares of the company's stock were exchanged, compared to its average volume of 14,544,817. The firm has a 50-day moving average price of $658.89 and a 200-day moving average price of $630.04. The stock has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.76 and a beta of 1.28. 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, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last posted 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 firm 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%. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.71 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders 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 dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Moffett Nathanson lifted their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Rosenblatt Securities raised their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Wells Fargo & Company reissued an "overweight" rating and set a $664.00 price objective on shares of Meta Platforms in a report on Tuesday, June 17th. Robert W. Baird raised their target price on Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Evercore ISI lifted their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $719.29.

Meta Platforms 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.