Strategic Financial Concepts LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,739 shares of the social networking company's stock after selling 403 shares during the period. Strategic Financial Concepts LLC's holdings in Meta Platforms were worth $1,002,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Inlight Wealth Management LLC acquired a new stake in shares of Meta Platforms in the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the first quarter worth about $28,000. Millstone Evans Group LLC purchased a new position in Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
Analyst Upgrades and Downgrades
META has been the topic of a number of recent analyst reports. Cantor Fitzgerald upped their price objective on Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a report on Wednesday, June 18th. Truist Financial lifted their target price on Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Roth Capital increased their price target on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $750.00 price objective on shares of Meta Platforms in a report on Wednesday, April 30th. Finally, Moffett Nathanson increased their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $719.29.
View Our Latest Report on Meta Platforms
Meta Platforms Price Performance
META stock opened at $716.91 on Monday. The stock's 50 day moving average price is $658.89 and its 200 day moving average price is $630.28. The firm has a market cap of $1.80 trillion, a P/E ratio of 27.96, a PEG ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm 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 quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.71 EPS. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms's payout ratio is currently 8.19%.
Insider Buying and Selling
In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer owned 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,677 shares of company stock worth $105,221,340. 13.61% of the stock is owned by company insiders.
Meta Platforms Profile
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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.
See Also
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).
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