OneDigital Investment Advisors LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,396 shares of the social networking company's stock after selling 760 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Meta Platforms were worth $19,824,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Valley Financial Group Inc. boosted its position in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after acquiring an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC lifted its position in Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after purchasing an additional 14 shares during the last quarter. Maiden Cove Capital LLC lifted its position in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares during the last quarter. Riverwater Partners LLC lifted its position in Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after purchasing an additional 15 shares during the last quarter. Finally, ABLE Financial Group LLC lifted its position in Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock valued at $1,251,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 79.91% of the company's stock.
Insider Buying and Selling
In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total transaction of $382,503.00. Following the sale, the insider owned 27,626 shares of the company's stock, valued at $20,360,362. The trade was a 1.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction on Monday, June 30th. The stock was sold at an average price of $740.97, for a total transaction of $383,081.49. Following the sale, the chief operating officer directly owned 7,853 shares in the company, valued at approximately $5,818,837.41. This trade represents a 6.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,756 shares of company stock valued at $104,720,878. 13.61% of the stock is owned by corporate insiders.
Meta Platforms Stock Performance
Shares of NASDAQ:META traded up $12.11 during trading on Wednesday, hitting $732.78. 11,398,608 shares of the stock traded hands, compared to its average volume of 14,483,554. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.84 trillion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a fifty day moving average price of $665.58 and a two-hundred day moving average price of $631.83. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.71 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.
Wall Street Analysts Forecast Growth
Several research firms have commented on META. Rosenblatt Securities increased their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Scotiabank lowered their price objective on shares of 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. Cantor Fitzgerald increased their price objective on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. Roth Capital increased their price objective on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Truist Financial increased their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $727.95.
Check Out Our Latest Stock Report on META
Meta Platforms Company 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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