Patriot Financial Group Insurance Agency LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,048 shares of the social networking company's stock after buying an additional 932 shares during the quarter. Meta Platforms makes up about 1.0% of Patriot Financial Group Insurance Agency LLC's portfolio, making the stock its 16th biggest position. Patriot Financial Group Insurance Agency LLC's holdings in Meta Platforms were worth $7,520,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Fjell Capital LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $1,836,000. Opulen Financial Group LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $325,000. Daner Wealth Management LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $334,000. Appleton Partners Inc. MA grew its stake in Meta Platforms by 3.7% in the fourth quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock worth $15,406,000 after purchasing an additional 951 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total transaction of $547,995.00. Following the completion of the transaction, the insider now owns 33,024 shares in the company, valued at approximately $19,649,280. This trade represents a 2.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction dated 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 now owns 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,171 shares of company stock worth $35,163,457. Insiders own 13.61% of the company's stock.
Meta Platforms Stock Performance
META traded up $13.09 on Friday, reaching $697.71. 11,707,462 shares of the stock were exchanged, compared to its average volume of 14,531,332. The company's 50-day moving average price is $587.67 and its 200 day moving average price is $615.18. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market capitalization of $1.75 trillion, a PE ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26.
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 analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. 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 posted $4.71 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms's payout ratio is currently 8.19%.
Analysts Set New Price Targets
META has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research note on Wednesday. DA Davidson dropped their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. 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. Morgan Stanley increased their target price on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, KeyCorp increased their target price on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. One equities research 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $702.48.
Read Our Latest Report on Meta Platforms
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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