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Sargent Investment Group LLC Purchases 2,514 Shares of Meta Platforms, Inc. (NASDAQ:META)

Meta Platforms logo with Computer and Technology background

Sargent Investment Group LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 76.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,805 shares of the social networking company's stock after purchasing an additional 2,514 shares during the period. Sargent Investment Group LLC's holdings in Meta Platforms were worth $3,346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of META. Inlight Wealth Management LLC acquired a new stake in shares of Meta Platforms in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Meta Platforms in the first quarter worth $28,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter worth $45,000. Finally, JCIC Asset Management Inc. boosted its stake in shares of Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Analysts Set New Price Targets

META has been the subject of several analyst reports. 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 note on Friday, May 16th. Roth Capital upped their target price on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Morgan Stanley upped their target price on shares of Meta Platforms from $650.00 to $750.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Susquehanna decreased their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Finally, 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. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $752.33.

Read Our Latest Stock Report on META

Meta Platforms Stock Up 0.6%

Shares of META stock traded up $4.18 during trading on Monday, hitting $716.86. 3,710,559 shares of the company were exchanged, compared to its average volume of 15,368,374. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 1.71 and a beta of 1.28. The business's 50-day simple moving average is $692.48 and its 200 day simple moving average is $642.00. Meta Platforms, Inc. has a twelve month low of $450.80 and a twelve month high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly 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 analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $4.71 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business 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. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 517 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $706.41, for a total transaction of $365,213.97. Following the transaction, the chief operating officer owned 6,302 shares of the company's stock, valued at approximately $4,451,795.82. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction that occurred 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 three months, insiders have sold 152,865 shares of company stock valued at $105,467,671. 13.61% of the stock is owned by company insiders.

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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