Segall Bryant & Hamill LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,258 shares of the social networking company's stock, valued at approximately $7,641,000.
Other hedge funds have also added to or reduced their stakes in the company. DDD Partners LLC lifted its position in shares of Meta Platforms by 1.6% in the 1st quarter. DDD Partners LLC now owns 3,637 shares of the social networking company's stock worth $2,096,000 after purchasing an additional 58 shares during the period. Private Wealth Management Group LLC raised its stake in Meta Platforms by 9.7% during the 1st quarter. Private Wealth Management Group LLC now owns 645 shares of the social networking company's stock worth $372,000 after buying an additional 57 shares during the period. Schrum Private Wealth Management LLC raised its position in shares of Meta Platforms by 8.7% during the first quarter. Schrum Private Wealth Management LLC now owns 622 shares of the social networking company's stock worth $359,000 after purchasing an additional 50 shares during the period. Ndwm LLC acquired a new position in Meta Platforms during the first quarter worth $215,000. Finally, Bridgewater Advisors Inc. increased its position in shares of Meta Platforms by 5.4% during the first quarter. Bridgewater Advisors Inc. now owns 27,604 shares of the social networking company's stock worth $15,305,000 after acquiring an additional 1,414 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 517 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $717.50, for a total value of $370,947.50. Following the completion of the transaction, the chief operating officer owned 6,819 shares of the company's stock, valued at $4,892,632.50. The trade was a 7.05% 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 2,361 shares of the firm's stock in a transaction 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. Over the last three months, insiders sold 152,437 shares of company stock valued at $105,068,570. Company insiders own 13.61% of the company's stock.
Meta Platforms Price Performance
NASDAQ:META traded up $8.83 during mid-day trading on Wednesday, hitting $713.64. 5,633,054 shares of the stock traded hands, compared to its average volume of 14,270,516. The business's 50-day moving average price is $686.09 and its 200 day moving average price is $638.61. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90. The company has a market cap of $1.79 trillion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28.
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 analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.71 earnings per share. On average, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. 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 (DPR) is 8.19%.
Analyst Ratings Changes
A number of research firms have recently weighed in on META. Robert W. Baird raised their target price on Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Bank of America raised their price objective on Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Needham & Company LLC upgraded shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research note on Thursday, July 3rd. TD Securities reduced their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lifted their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $752.33.
Check Out Our Latest Analysis on META
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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