Peterson Wealth Advisors LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 28.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,011 shares of the social networking company's stock after selling 399 shares during the quarter. Peterson Wealth Advisors LLC's holdings in Meta Platforms were worth $583,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Silverlake Wealth Management LLC increased its stake in Meta Platforms by 2.9% in the 1st quarter. Silverlake Wealth Management LLC now owns 1,793 shares of the social networking company's stock worth $1,033,000 after acquiring an additional 51 shares during the last quarter. Trek Financial LLC lifted its holdings in shares of Meta Platforms by 224.7% during the 1st quarter. Trek Financial LLC now owns 12,255 shares of the social networking company's stock worth $7,063,000 after acquiring an additional 8,481 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Meta Platforms by 1.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,310,811 shares of the social networking company's stock worth $1,296,055,000 after acquiring an additional 29,791 shares during the last quarter. OMNI 360 Wealth Inc. lifted its holdings in shares of Meta Platforms by 29.2% during the 1st quarter. OMNI 360 Wealth Inc. now owns 1,163 shares of the social networking company's stock worth $670,000 after acquiring an additional 263 shares during the last quarter. Finally, Personal CFO Solutions LLC lifted its holdings in shares of Meta Platforms by 7.0% during the 1st quarter. Personal CFO Solutions LLC now owns 5,461 shares of the social networking company's stock worth $3,148,000 after acquiring an additional 359 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.
Insider Activity at Meta Platforms
In related news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 118,279 shares of the company's stock, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,792 shares of company stock worth $105,466,325 over the last 90 days. 13.61% of the stock is owned by company insiders.
Meta Platforms Trading Down 1.3%
Shares of NASDAQ META traded down $9.73 during midday trading on Friday, hitting $717.51. 10,855,962 shares of the company traded hands, compared to its average volume of 14,460,014. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month 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 has a 50-day moving average price of $674.77 and a 200 day moving average price of $634.35. The firm has a market cap of $1.80 trillion, a P/E ratio of 27.98, a P/E/G ratio of 1.76 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the previous year, the company earned $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The business 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. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.
Analyst Ratings Changes
A number of research firms have recently issued reports on META. Jefferies Financial Group dropped their price objective 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. Wells Fargo & Company lifted their price objective on shares of Meta Platforms from $664.00 to $783.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler reaffirmed an "overweight" rating and set a $808.00 price objective (up from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Oppenheimer lifted their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. Finally, Citigroup lifted their target price on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $729.38.
Check Out Our Latest Research Report on META
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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