Zevenbergen Capital Investments LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 409,912 shares of the social networking company's stock after selling 11,534 shares during the quarter. Meta Platforms makes up 5.8% of Zevenbergen Capital Investments LLC's investment portfolio, making the stock its 4th largest holding. Zevenbergen Capital Investments LLC's holdings in Meta Platforms were worth $236,257,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of META. Csenge Advisory Group boosted its stake in shares of Meta Platforms by 12.0% during the 1st quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company's stock valued at $5,498,000 after buying an additional 1,019 shares during the period. Suvretta Capital Management LLC boosted its position in Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after purchasing an additional 1,850 shares during the last quarter. Skye Global Management LP grew its stake in Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after purchasing an additional 43,200 shares in the last quarter. ARQ Wealth Advisors LLC increased its position in Meta Platforms by 4.5% in the 1st quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company's stock worth $452,000 after purchasing an additional 34 shares during the last quarter. Finally, JMG Financial Group Ltd. purchased a new stake in shares of Meta Platforms during the 1st quarter worth about $284,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Stock Performance
Meta Platforms stock opened at $780.08 on Thursday. The stock has a 50-day simple moving average of $720.73 and a 200 day simple moving average of $653.97. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.64 and a beta of 1.27. 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, Inc. has a 12-month low of $479.80 and a 12-month high of $795.46.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. During the same quarter last year, the company posted $5.16 EPS. The company's quarterly revenue was up 21.6% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. 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 presently 7.60%.
Wall Street Analysts Forecast Growth
META has been the subject of several recent research reports. Guggenheim reissued a "buy" rating and issued a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a research note on Monday, July 28th. Roth Capital boosted their target price on shares of Meta Platforms from $620.00 to $740.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Canaccord Genuity Group raised their price target on shares of Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Royal Bank Of Canada upped their price objective on shares of Meta Platforms from $740.00 to $840.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Moffett Nathanson raised their target price on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $822.41.
Get Our Latest Stock Report on META
Insider Buying and Selling at Meta Platforms
In related news, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 292,211 shares of company stock worth $215,232,155. Insiders own 13.61% of the company's stock.
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.
Further Reading
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