MGO One Seven LLC Buys 5,306 Shares of Meta Platforms, Inc. (NASDAQ:META)

Key Points

• MGO One Seven LLC increased its stake in Meta Platforms by 17.1%, acquiring 5,306 additional shares to total 36,286 shares valued at $20.9 million.
• Brokerages have upgraded their target prices for Meta Platforms, with ratings indicating a consensus of "Moderate Buy" and an average price target of $822.41.
• Recent quarterly earnings revealed a EPS of $7.14, exceeding estimates significantly, with revenue growth of 21.6% year-over-year, totaling $47.52 billion.

MGO One Seven LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,286 shares of the social networking company's stock after buying an additional 5,306 shares during the period. Meta Platforms makes up 0.8% of MGO One Seven LLC's investment portfolio, making the stock its 15th largest holding. MGO One Seven LLC's holdings in Meta Platforms were worth $20,914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms in the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Meta Platforms in the 1st quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Meta Platforms in the 1st quarter worth $33,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms in the 4th quarter worth $45,000. Finally, JCIC Asset Management Inc. lifted its holdings in shares of Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after purchasing an additional 40 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on META. Stifel Nicolaus increased their target price on Meta Platforms from $845.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Raymond James Financial increased their target price on Meta Platforms from $750.00 to $900.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Evercore ISI raised their price objective on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Monness Crespi & Hardt raised their price objective on Meta Platforms from $780.00 to $860.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Loop Capital raised their price objective on Meta Platforms from $888.00 to $980.00 and gave the company a "buy" rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $822.41.

Meta Platforms Price Performance

Shares of NASDAQ META traded down $12.91 during midday trading on Tuesday, hitting $763.46. 11,612,061 shares of the company's stock were exchanged, compared to its average volume of 13,355,778. Meta Platforms, Inc. has a 12-month low of $478.65 and a 12-month high of $784.75. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.92 trillion, a price-to-earnings ratio of 27.64, a PEG ratio of 1.59 and a beta of 1.27. The business's fifty day moving average price is $704.66 and its two-hundred day moving average price is $647.27.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The company had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. Meta Platforms's revenue was up 21.6% on a year-over-year basis. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's dividend payout ratio is currently 7.60%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $715.00, for a total value of $369,655.00. Following the completion of the sale, the chief operating officer owned 5,785 shares of the company's stock, valued at $4,136,275. This represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the completion of the sale, the director directly owned 9,342 shares of the company's stock, valued at approximately $6,755,013.36. This represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 167,298 shares of company stock worth $116,742,790 in the last three months. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Company 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.