PARUS FINANCE UK Ltd decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 21.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 50,980 shares of the social networking company's stock after selling 13,839 shares during the period. Meta Platforms accounts for about 10.0% of PARUS FINANCE UK Ltd's holdings, making the stock its 4th largest position. PARUS FINANCE UK Ltd's holdings in Meta Platforms were worth $29,383,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares during the period. Lantern Wealth Advisors LLC lifted its position in shares of Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after buying an additional 14 shares during the period. ABLE Financial Group LLC lifted its position in shares of Meta Platforms by 0.7% during the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after buying an additional 15 shares during the period. Mosaic Family Wealth Partners LLC lifted its position in shares of Meta Platforms by 1.2% during the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock worth $840,000 after buying an additional 17 shares during the period. Finally, Orin Green Financial LLC lifted its position in shares of Meta Platforms by 2.2% during the 4th quarter. Orin Green Financial LLC now owns 795 shares of the social networking company's stock worth $465,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.
Insider Buying and Selling
In related news, COO Javier Olivan sold 517 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $760.26, for a total transaction of $393,054.42. Following the sale, the chief operating officer owned 5,268 shares in the company, valued at approximately $4,005,049.68. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 15,847 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $768.67, for a total value of $12,181,113.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,024 shares of company stock worth $199,983,159. Insiders own 13.61% of the company's stock.
Analyst Ratings Changes
Several research firms recently commented on META. Raymond James Financial raised their target price on Meta Platforms from $750.00 to $900.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. Citigroup reiterated an "outperform" rating on shares of Meta Platforms in a research report on Thursday, July 31st. Morgan Stanley lifted their price objective on Meta Platforms from $750.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Robert W. Baird lifted their price objective on Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Canaccord Genuity Group lifted their price objective on Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $822.41.
Get Our Latest Report on META
Meta Platforms Stock Up 1.0%
META stock opened at $769.30 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market capitalization of $1.93 trillion, a P/E ratio of 27.85, a P/E/G ratio of 1.58 and a beta of 1.27. The business has a 50-day moving average of $714.53 and a 200-day moving average of $651.01. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $784.75.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The company had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. During the same period in the prior year, the firm earned $5.16 earnings per share. Meta Platforms's revenue for the quarter was up 21.6% compared to the same quarter last year. 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 business 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 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 7.60%.
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.
Further Reading
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