Mirador Capital Partners LP Acquires 761 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mirador Capital Partners LP increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,840 shares of the social networking company's stock after buying an additional 761 shares during the quarter. Meta Platforms comprises approximately 2.4% of Mirador Capital Partners LP's investment portfolio, making the stock its 11th biggest position. Mirador Capital Partners LP's holdings in Meta Platforms were worth $13,741,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of META. Norges Bank acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $19,949,512,000. GAMMA Investing LLC boosted its holdings in shares of Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter valued at $2,243,603,000. Finally, Northern Trust Corp boosted its holdings in shares of Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after acquiring an additional 2,787,832 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $23.41 during midday trading on Monday, reaching $670.90. The company's stock had a trading volume of 15,706,506 shares, compared to its average volume of 14,486,998. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The firm has a 50 day moving average price of $578.56 and a 200-day moving average price of $611.28. The stock has a market capitalization of $1.69 trillion, a P/E ratio of 28.05, a PEG ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

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 for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.71 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $635.41, for a total transaction of $328,506.97. Following the completion of the sale, the chief operating officer now directly owns 10,438 shares in the company, valued at $6,632,409.58. This trade represents a 4.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,056 shares of company stock valued at $35,074,903. 13.61% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on META shares. TD Securities cut their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Scotiabank lowered their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. Barclays lowered their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Roth Capital raised their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

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.