Segall Bryant & Hamill LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,258 shares of the social networking company's stock, valued at approximately $7,641,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of META. DDD Partners LLC grew its stake in shares of Meta Platforms by 1.6% during the first quarter. DDD Partners LLC now owns 3,637 shares of the social networking company's stock valued at $2,096,000 after purchasing an additional 58 shares during the last quarter. Private Wealth Management Group LLC lifted its holdings 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 in the last quarter. Schrum Private Wealth Management LLC boosted its position in Meta Platforms by 8.7% in the 1st quarter. Schrum Private Wealth Management LLC now owns 622 shares of the social networking company's stock valued at $359,000 after buying an additional 50 shares during the last quarter. Ndwm LLC bought a new position in Meta Platforms in the 1st quarter valued at $215,000. Finally, Bridgewater Advisors Inc. raised 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 during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Stock Performance
META stock traded up $1.22 during mid-day trading on Thursday, hitting $714.80. The company had a trading volume of 10,905,875 shares, compared to its average volume of 10,708,539. 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 cap of $1.80 trillion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The stock's fifty day moving average price is $691.04 and its two-hundred day moving average price is $640.92.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data 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 net margin of 39.11% and a return on equity of 38.69%. The business 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. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms's payout ratio is presently 8.19%.
Insider Activity at Meta Platforms
In other news, Director Robert M. Kimmitt sold 465 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the completion of the transaction, the director directly owned 9,342 shares in the company, valued at approximately $6,755,013.36. This represents a 4.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,473 shares of company stock worth $105,805,440. Corporate insiders own 13.61% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on META shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $828.00 price objective (up from $807.00) on shares of Meta Platforms in a research report on Wednesday, July 16th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. TD Cowen boosted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $655.00 to $845.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Oppenheimer lifted their target price on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. Five equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $752.33.
Read Our Latest Stock Analysis on Meta Platforms
Meta Platforms Company Profile
(
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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