San Luis Wealth Advisors LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 505.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,348 shares of the social networking company's stock after buying an additional 7,805 shares during the quarter. Meta Platforms accounts for about 1.2% of San Luis Wealth Advisors LLC's portfolio, making the stock its 22nd largest position. San Luis Wealth Advisors LLC's holdings in Meta Platforms were worth $5,388,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fjell Capital LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at $1,836,000. Opulen Financial Group LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $325,000. Daner Wealth Management LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $334,000. Brighton Jones LLC increased its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after acquiring an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $112,406,000. Institutional investors own 79.91% of the company's stock.
Insider Buying and Selling
In other news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the sale, the insider now owns 31,182 shares of the company's stock, valued at approximately $19,552,673.10. This trade represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 608 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $614.97, for a total transaction of $373,901.76. Following the completion of the sale, the chief operating officer now directly owns 6,838 shares of the company's stock, valued at approximately $4,205,164.86. The trade was a 8.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,512 shares of company stock valued at $73,590,232. Company insiders own 13.61% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Roth Capital boosted their price objective on Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Morgan Stanley lifted their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Raymond James Financial lowered their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company restated an "overweight" rating and set a $664.00 price objective on shares of Meta Platforms in a report on Tuesday. Finally, Truist Financial upped their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average price target of $710.00.
Read Our Latest Report on Meta Platforms
Meta Platforms Stock Performance
NASDAQ:META traded down $1.46 on Thursday, hitting $695.77. The company's stock had a trading volume of 9,635,650 shares, compared to its average volume of 14,501,973. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a market capitalization of $1.75 trillion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. The stock has a fifty day moving average of $612.33 and a two-hundred day moving average of $621.89. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.
About Meta Platforms
(
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.
Further Reading
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
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
