Resonant Capital Advisors LLC Has $6.30 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Resonant Capital Advisors LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,936 shares of the social networking company's stock after buying an additional 595 shares during the period. Resonant Capital Advisors LLC's holdings in Meta Platforms were worth $6,303,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Valley Financial Group Inc. increased its position in Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after purchasing an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC increased its position in Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after purchasing an additional 14 shares during the last quarter. Maiden Cove Capital LLC increased its position in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after purchasing an additional 15 shares during the last quarter. Riverwater Partners LLC increased its position in Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after purchasing an additional 15 shares during the last quarter. Finally, ABLE Financial Group LLC increased its position in Meta Platforms by 0.7% in the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after purchasing an additional 15 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 2,361 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $740.97, for a total value of $383,081.49. Following the sale, the chief operating officer directly owned 7,853 shares of the company's stock, valued at $5,818,837.41. This represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,756 shares of company stock valued at $104,720,878 in the last three months. Corporate insiders own 13.61% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on META shares. TD Securities dropped their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Oppenheimer increased their price objective on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a report on Monday, June 16th. Scotiabank lowered their price objective on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Benchmark lowered their price objective on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Loop Capital increased their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $724.98.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $2.32 during midday trading on Tuesday, hitting $720.67. 7,751,333 shares of the company were exchanged, compared to its average volume of 14,497,486. 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 cap of $1.81 trillion, a P/E ratio of 28.11, a PEG ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The firm has a 50 day simple moving average of $662.26 and a 200-day simple moving average of $631.21.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms's revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $4.71 EPS. Research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared 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 of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio is 8.19%.

Meta Platforms 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.