Personal CFO Solutions LLC Acquires 359 Shares of Meta Platforms, Inc. (NASDAQ:META)

Personal CFO Solutions LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,461 shares of the social networking company's stock after purchasing an additional 359 shares during the period. Meta Platforms makes up 0.6% of Personal CFO Solutions LLC's holdings, making the stock its 24th largest position. Personal CFO Solutions LLC's holdings in Meta Platforms were worth $3,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC boosted its stake in shares of Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after buying an additional 1,850 shares during the last quarter. Skye Global Management LP boosted its stake in shares of Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after buying an additional 43,200 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after buying an additional 1,229,350 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Meta Platforms by 25.1% during the 4th quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock worth $215,760,000 after buying an additional 73,907 shares during the last quarter. Finally, Arcadia Wealth Management Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth about $600,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $717.51, for a total value of $370,952.67. Following the sale, the chief operating officer owned 7,336 shares in the company, valued at $5,263,653.36. This trade represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,792 shares of company stock worth $105,466,325. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of NASDAQ META traded down $9.73 during trading hours on Friday, hitting $717.51. 10,855,962 shares of the stock were exchanged, compared to its average volume of 14,460,014. 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 company has a market cap of $1.80 trillion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company's fifty day simple moving average is $674.77 and its two-hundred day simple moving average is $634.35. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last posted 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 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 for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $4.71 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio is 8.19%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on META shares. Oppenheimer increased their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Monness Crespi & Hardt increased their price objective on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Truist Financial upped their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a report on Thursday, May 1st. KeyCorp upped their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Five investment 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $729.38.

Meta Platforms Profile

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.