Meta Platforms, Inc. (NASDAQ:META) is SeaBridge Investment Advisors LLC's 10th Largest Position

SeaBridge Investment Advisors LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,509 shares of the social networking company's stock after buying an additional 737 shares during the quarter. Meta Platforms accounts for approximately 2.0% of SeaBridge Investment Advisors LLC's holdings, making the stock its 10th largest holding. SeaBridge Investment Advisors LLC's holdings in Meta Platforms were worth $9,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. Brighton Jones LLC increased its stake 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 buying an additional 570 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after purchasing an additional 7,587 shares in the last quarter. Highview Capital Management LLC DE lifted its position in shares of Meta Platforms by 3.7% during the fourth quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock worth $3,624,000 after purchasing an additional 218 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth about $2,243,603,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on META shares. Pivotal Research cut their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Guggenheim boosted their price target on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Truist Financial raised their price objective on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company lifted their price objective on shares of Meta Platforms from $664.00 to $783.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Raymond James Financial decreased their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average price target of $752.33.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the sale, the chief executive officer owned 118,279 shares in the company, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,473 shares of company stock worth $105,805,440. Company insiders own 13.61% of the company's stock.

Meta Platforms Stock Up 0.2%

NASDAQ:META traded up $1.22 during mid-day trading on Thursday, hitting $714.80. 10,905,875 shares of the company's stock were exchanged, compared to its average volume of 10,708,539. The business has a fifty day moving average price of $691.04 and a 200 day moving average price of $640.92. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The company has a market cap of $1.80 trillion, a PE ratio of 27.88, a P/E/G ratio of 1.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last announced 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the business earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders 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 currently 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.