Pure Financial Advisors LLC Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Pure Financial Advisors LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,416 shares of the social networking company's stock after buying an additional 367 shares during the quarter. Pure Financial Advisors LLC's holdings in Meta Platforms were worth $2,545,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Suvretta Capital Management LLC grew its holdings in shares of Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP grew its holdings in shares of Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after purchasing an additional 43,200 shares during the period. Brueske Advisory Services LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $459,000. Kovitz Investment Group Partners LLC grew its holdings in shares of Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after purchasing an additional 1,229,350 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock valued at $3,908,382,000 after purchasing an additional 110,040 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $733.63 on Friday. The firm has a market capitalization of $1.84 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.81 and a beta of 1.26. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm's 50 day moving average is $638.51 and its two-hundred day moving average is $626.48.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 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%. The firm's revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.71 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on META shares. Loop Capital upped their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Guggenheim upped their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Roth Capital upped their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Susquehanna decreased their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $719.52.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,831 shares of company stock worth $83,868,872. Insiders own 13.61% of the company's stock.

Meta Platforms Company 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.

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