Sfm LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,889 shares of the social networking company's stock, valued at approximately $1,089,000.
Other institutional investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC grew its stake in shares of Meta Platforms by 53.6% in the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Analyst Ratings Changes
Several research analysts have weighed in on META shares. Evercore ISI lifted their target price on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. JMP Securities reaffirmed a "market outperform" rating and set a $750.00 price objective on shares of Meta Platforms in a report on Wednesday, April 30th. Citigroup upped their price objective on Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Oppenheimer upped their price objective on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price objective on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $704.26.
Check Out Our Latest Analysis on Meta Platforms
Meta Platforms Stock Performance
NASDAQ META opened at $682.87 on Monday. The business's 50-day moving average price is $604.07 and its 200 day moving average price is $619.96. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a market capitalization of $1.72 trillion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the business posted $4.71 earnings per share. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
Insider Buying and Selling
In other news, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 7,802 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $701.96, for a total value of $5,476,691.92. Following the completion of the transaction, the chief executive officer now owns 110,477 shares in the company, valued at approximately $77,550,434.92. This trade represents a 6.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,593 shares of company stock worth $56,008,477. 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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