Naples Global Advisors LLC Buys 2,122 Shares of Meta Platforms, Inc. (NASDAQ:META)

Naples Global Advisors LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 26.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,159 shares of the social networking company's stock after buying an additional 2,122 shares during the period. Naples Global Advisors LLC's holdings in Meta Platforms were worth $5,855,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in META. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the 4th quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the 4th quarter worth $45,000. Stuart Chaussee & Associates Inc. bought a new position in Meta Platforms during the 4th quarter worth about $47,000. Finally, Conquis Financial LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $59,000. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Susquehanna lowered their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Evercore ISI lifted their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Rosenblatt Securities increased their target price 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. Finally, Scotiabank lowered their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $702.48.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $13.09 during trading on Friday, reaching $697.71. The company's stock had a trading volume of 11,707,462 shares, compared to its average volume of 14,495,197. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The firm has a market cap of $1.75 trillion, a PE ratio of 29.17, a P/E/G ratio of 1.42 and a beta of 1.24. The business's 50-day moving average price is $585.44 and its 200-day moving average price is $613.90. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

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. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. The business's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.71 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total transaction of $348,249.00. Following the completion of the sale, the insider now directly owns 29,702 shares in the company, valued at $19,930,042. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the chief technology officer now owns 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 56,171 shares of company stock worth $35,163,457. 13.61% of the stock is currently owned by company insiders.

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.