Quadrant Private Wealth Management LLC Has $11.58 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Quadrant Private Wealth Management LLC increased its holdings in Meta Platforms, Inc. by 1.8%, now owning 20,093 shares worth $11,581,000, making it the firm's 3rd biggest holding.
• Multiple institutional investors have recently acquired new positions in Meta Platforms, contributing to 79.91% of the company's stock being owned by institutional investors.
• Meta reported a Q1 EPS of $6.43, exceeding estimates by $1.10, with a net margin of 39.11% and revenue growth of 16.1% year-over-year.

Quadrant Private Wealth Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,093 shares of the social networking company's stock after acquiring an additional 358 shares during the period. Meta Platforms accounts for 2.9% of Quadrant Private Wealth Management LLC's investment portfolio, making the stock its 3rd biggest holding. Quadrant Private Wealth Management LLC's holdings in Meta Platforms were worth $11,581,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sustainable Growth Advisers LP raised its position in shares of Meta Platforms by 23.1% during the first quarter. Sustainable Growth Advisers LP now owns 1,539,292 shares of the social networking company's stock valued at $887,186,000 after buying an additional 289,208 shares during the last quarter. DeDora Capital Inc. raised its position in shares of Meta Platforms by 0.4% during the first quarter. DeDora Capital Inc. now owns 5,831 shares of the social networking company's stock valued at $3,361,000 after buying an additional 26 shares during the last quarter. BlueChip Wealth Advisors LLC raised its position in shares of Meta Platforms by 5.8% during the first quarter. BlueChip Wealth Advisors LLC now owns 1,327 shares of the social networking company's stock valued at $765,000 after buying an additional 73 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Meta Platforms by 2.2% during the first quarter. Proficio Capital Partners LLC now owns 11,208 shares of the social networking company's stock valued at $6,463,000 after buying an additional 236 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in Meta Platforms by 1.8% in the first quarter. KLP Kapitalforvaltning AS now owns 776,810 shares of the social networking company's stock valued at $447,722,000 after acquiring an additional 13,500 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Evercore ISI upped their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. TD Cowen upped their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Scotiabank upped their target price on shares of Meta Platforms from $525.00 to $675.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Finally, Pivotal Research lowered their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and an average target price of $754.07.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 517 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $715.00, for a total value of $369,655.00. Following the completion of the transaction, the chief operating officer owned 5,785 shares of the company's stock, valued at approximately $4,136,275. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction 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 ninety days, insiders have sold 152,461 shares of company stock valued at $105,335,225. Insiders own 13.61% of the company's stock.

Meta Platforms Trading Down 0.7%

META traded down $4.79 during mid-day trading on Wednesday, hitting $695.21. The stock had a trading volume of 26,166,475 shares, compared to its average volume of 9,688,610. The stock's fifty day simple moving average is $696.48 and its 200-day simple moving average is $643.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.28. Meta Platforms, Inc. has a 1-year low of $450.80 and a 1-year high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. During the same quarter last year, the business earned $5.16 EPS. The company's revenue for the quarter was up 21.6% on a year-over-year basis. As a group, research 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 was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a dividend of $0.525 per share. The ex-dividend date was 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 8.19%.

About Meta Platforms

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.