Quintet Private Bank Europe S.A. Raises Position in Meta Platforms, Inc. (NASDAQ:META)

Quintet Private Bank Europe S.A. increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,266 shares of the social networking company's stock after acquiring an additional 820 shares during the quarter. Quintet Private Bank Europe S.A.'s holdings in Meta Platforms were worth $5,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Suvretta Capital Management LLC grew its position in shares of Meta Platforms by 1.1% in 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 lifted its stake in shares of Meta Platforms by 130.9% in the 4th 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 position in shares of Meta Platforms in the 4th quarter valued at approximately $459,000. Apollon Financial LLC lifted its stake in shares of Meta Platforms by 11.1% in the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock valued at $866,000 after purchasing an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Meta Platforms by 255.9% in the 4th 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. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 7,466 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $701.25, for a total value of $5,235,532.50. Following the sale, the chief executive officer now directly owns 132,072 shares in the company, valued at approximately $92,615,490. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.00, for a total value of $363,819.00. Following the completion of the sale, the insider now owns 29,183 shares in the company, valued at $20,457,283. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,201 shares of company stock worth $56,377,837. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of NASDAQ META traded down $10.49 during mid-day trading on Friday, reaching $682.87. The company's stock had a trading volume of 9,259,272 shares, compared to its average volume of 14,521,911. The firm has a market capitalization of $1.72 trillion, a PE ratio of 28.55, a P/E/G ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a fifty day moving average of $604.07 and a two-hundred day moving average of $619.60. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.71 earnings per share. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio is currently 8.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on META shares. Cantor Fitzgerald restated an "overweight" rating and issued a $676.00 target price on shares of Meta Platforms in a research note on Wednesday. Citigroup raised their target price on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Piper Sandler raised their target price on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Evercore ISI raised their target price on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $704.26.

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.