Proactive Wealth Strategies LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,858 shares of the social networking company's stock after selling 391 shares during the period. Proactive Wealth Strategies LLC's holdings in Meta Platforms were worth $1,071,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after acquiring an additional 1,020,519 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after acquiring an additional 1,049,121 shares during the last quarter. Capital World Investors lifted its holdings in shares of Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after acquiring an additional 1,141,355 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Meta Platforms in the 4th quarter valued at about $19,949,512,000. Institutional investors own 79.91% of the company's stock.
Analysts Set New Price Targets
META has been the subject of a number of analyst reports. Guggenheim increased their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus increased their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Scotiabank lowered their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. Barclays lowered their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Raymond James Financial reduced their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $719.52.
Check Out Our Latest Stock Report on META
Meta Platforms Trading Up 1.0%
Shares of NASDAQ:META traded up $7.54 during trading on Friday, reaching $733.63. 18,758,104 shares of the company were exchanged, compared to its average volume of 14,525,798. The firm has a market capitalization of $1.84 trillion, a PE ratio of 28.61, a P/E/G ratio of 1.74 and a beta of 1.26. The business's fifty day simple moving average is $633.87 and its 200-day simple moving average is $625.73. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data 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. The company 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%. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $4.71 earnings per share. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Dividend Announcement
The firm also recently disclosed 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 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is 8.19%.
Insider Activity at Meta Platforms
In related news, CEO Mark Zuckerberg sold 1,462 shares of Meta Platforms stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the transaction, the chief executive officer now directly owns 139,538 shares of the company's stock, valued at $97,834,277.94. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $563.03, for a total transaction of $342,322.24. Following the transaction, the chief operating officer now directly owns 6,230 shares in the company, valued at approximately $3,507,676.90. The trade was a 8.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,831 shares of company stock valued at $83,868,872 over the last ninety days. 13.61% of the stock is owned by company insiders.
Meta Platforms Company 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.
Read More
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
