Parker Investment Management LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 161.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,289 shares of the social networking company's stock after acquiring an additional 796 shares during the period. Meta Platforms comprises about 0.1% of Parker Investment Management LLC's holdings, making the stock its 20th biggest holding. Parker Investment Management LLC's holdings in Meta Platforms were worth $743,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the stock. Gould Asset Management LLC CA raised its position in Meta Platforms by 3.7% during the first quarter. Gould Asset Management LLC CA now owns 1,501 shares of the social networking company's stock worth $865,000 after acquiring an additional 53 shares during the period. Bleakley Financial Group LLC raised its position in Meta Platforms by 8.1% during the first quarter. Bleakley Financial Group LLC now owns 69,166 shares of the social networking company's stock worth $39,865,000 after acquiring an additional 5,190 shares during the period. MQS Management LLC acquired a new position in Meta Platforms during the first quarter worth $300,000. Legacy Financial Group Inc. raised its position in Meta Platforms by 20.8% during the first quarter. Legacy Financial Group Inc. now owns 1,050 shares of the social networking company's stock worth $605,000 after acquiring an additional 181 shares during the period. Finally, Whitener Capital Management Inc. raised its position in Meta Platforms by 18.8% during the first quarter. Whitener Capital Management Inc. now owns 4,711 shares of the social networking company's stock worth $2,715,000 after acquiring an additional 745 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, the chief executive officer owned 118,279 shares in the company, valued at $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,764 shares of company stock worth $105,721,208 over the last three months. Insiders own 13.61% of the company's stock.
Meta Platforms Stock Up 0.4%
Shares of META traded up $2.87 during mid-day trading on Friday, hitting $704.28. 12,743,944 shares of the company's stock were exchanged, compared to its average volume of 14,336,421. The company has a market cap of $1.77 trillion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.72 and a beta of 1.28. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The stock's 50-day moving average is $686.09 and its 200-day moving average is $638.34.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.71 earnings per share. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
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 $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 0.30%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on META shares. Roth Capital upped their target price on shares of Meta Platforms from $620.00 to $740.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Guggenheim upped their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus upped their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Bank of America upped their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, Jefferies Financial Group dropped their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Five investment 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $736.05.
Read Our Latest Stock Analysis on META
Meta Platforms 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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