Montag A & Associates Inc. boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 95.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,367 shares of the social networking company's stock after buying an additional 6,049 shares during the quarter. Montag A & Associates Inc.'s holdings in Meta Platforms were worth $7,128,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares during the period. Capital World Investors boosted its position in Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $19,949,512,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after buying an additional 23,417,803 shares in the last quarter. Institutional investors own 79.91% of the company's stock.
Insider Transactions at Meta Platforms
In related news, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $716.10, for a total transaction of $371,655.90. Following the completion of the transaction, the insider directly owned 26,069 shares in the company, valued at approximately $18,668,010.90. The trade was a 1.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert M. Kimmitt sold 465 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $723.08, for a total value of $336,232.20. Following the transaction, the director owned 9,342 shares of the company's stock, valued at approximately $6,755,013.36. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,865 shares of company stock valued at $105,467,671. 13.61% of the stock is owned by company insiders.
Meta Platforms Stock Performance
NASDAQ:META traded up $3.55 during mid-day trading on Monday, reaching $716.23. The company's stock had a trading volume of 3,710,559 shares, compared to its average volume of 15,368,374. Meta Platforms, Inc. has a 12-month low of $450.80 and a 12-month high of $747.90. The firm's fifty day moving average price is $692.48 and its two-hundred day moving average price is $642.00. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.80 trillion, a P/E ratio of 27.93, a PEG ratio of 1.71 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.71 EPS. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. 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 is currently 8.19%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on META. Loop Capital increased their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Roth Capital increased their price target on shares of Meta Platforms from $620.00 to $740.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Raymond James Financial lowered their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a report on Thursday, May 1st. Susquehanna lowered their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Finally, Bank of America raised their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $752.33.
Check Out Our Latest Stock Analysis on Meta Platforms
Meta Platforms 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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