Migdal Insurance & Financial Holdings Ltd. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,151 shares of the social networking company's stock after selling 666 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Meta Platforms were worth $1,816,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after acquiring an additional 875 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Meta Platforms by 3.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after acquiring an additional 7,587 shares during the last quarter. Highview Capital Management LLC DE boosted its position in shares of Meta Platforms by 3.7% during the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock valued at $3,624,000 after acquiring an additional 218 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $2,243,603,000. 79.91% of the stock is currently owned by institutional investors.
Meta Platforms Stock Performance
Shares of Meta Platforms stock traded down $2.12 on Friday, reaching $712.68. 8,253,539 shares of the stock were exchanged, compared to its average volume of 10,556,341. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $450.80 and a twelve month high of $747.90. The firm has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.71 and a beta of 1.28. The business has a 50 day moving average price of $692.48 and a two-hundred day moving average price of $641.78.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. The company's revenue was up 16.1% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Pivotal Research lowered their target price on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Royal Bank Of Canada reiterated an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. Morgan Stanley increased their target price on Meta Platforms from $650.00 to $750.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. KeyCorp raised their price target on Meta Platforms from $655.00 to $800.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, Benchmark raised their price target on Meta Platforms from $640.00 to $800.00 and gave the stock a "buy" rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $752.33.
View Our Latest Report on META
Insider Transactions at Meta Platforms
In related news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $706.41, for a total transaction of $365,213.97. Following the completion of the transaction, the chief operating officer directly owned 6,302 shares in the company, valued at approximately $4,451,795.82. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,473 shares of company stock worth $105,805,440. 13.61% of the stock is owned by company insiders.
Meta Platforms Company 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.
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