Parcion Private Wealth LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 21.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,937 shares of the social networking company's stock after acquiring an additional 693 shares during the period. Parcion Private Wealth LLC's holdings in Meta Platforms were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Inlight Wealth Management LLC acquired a new position in Meta Platforms in the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms during the first quarter valued at $28,000. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the fourth quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter worth about $45,000. 79.91% of the stock is currently owned by institutional investors.
Meta Platforms Stock Performance
META traded up $1.22 during trading on Thursday, reaching $714.80. 10,905,875 shares of the company's stock were exchanged, compared to its average volume of 10,708,539. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company's fifty day simple moving average is $691.04 and its 200-day simple moving average is $640.92. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90. The stock has a market capitalization of $1.80 trillion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company's quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $4.71 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.
Insiders Place Their Bets
In other Meta Platforms news, Director Robert M. Kimmitt sold 465 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $723.08, for a total value of $336,232.20. Following the transaction, the director owned 9,342 shares of the company's stock, valued at $6,755,013.36. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $706.41, for a total transaction of $365,213.97. Following the completion of the sale, the chief operating officer owned 6,302 shares of the company's stock, valued at $4,451,795.82. This trade represents a 7.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 153,473 shares of company stock worth $105,805,440 in the last three months. 13.61% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of research analysts have commented on META shares. Monness Crespi & Hardt boosted their target price on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Loop Capital increased their price objective on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Evercore ISI lifted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Pivotal Research dropped their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Roth Capital lifted their price objective on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $752.33.
Check Out Our Latest Stock Report on Meta Platforms
Meta Platforms 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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