Stratos Wealth Advisors LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,241 shares of the social networking company's stock after selling 1,686 shares during the period. Meta Platforms accounts for approximately 1.2% of Stratos Wealth Advisors LLC's holdings, making the stock its 10th largest holding. Stratos Wealth Advisors LLC's holdings in Meta Platforms were worth $22,617,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Suvretta Capital Management LLC grew its stake in shares of Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP grew its stake in shares of Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after purchasing an additional 43,200 shares during the period. Kovitz Investment Group Partners LLC grew its stake in shares of Meta Platforms by 255.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after purchasing an additional 1,229,350 shares during the period. Quantinno Capital Management LP grew its stake in shares of Meta Platforms by 25.1% during the fourth quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock worth $215,760,000 after purchasing an additional 73,907 shares during the period. Finally, Arcadia Wealth Management Inc. acquired a new position in Meta Platforms in the fourth quarter valued at about $600,000. 79.91% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company boosted their target price on Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. UBS Group reissued a "buy" rating and issued a $812.00 target price (up from $683.00) on shares of Meta Platforms in a research note on Thursday, June 26th. Roth Capital boosted their target price on Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, TD Cowen boosted their target price on Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $729.38.
Check Out Our Latest Report on META
Insider Activity
In related news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction that occurred on 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 sale, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,792 shares of company stock valued at $105,466,325. 13.61% of the stock is owned by insiders.
Meta Platforms Stock Performance
Shares of Meta Platforms stock traded down $9.73 on Friday, hitting $717.51. The stock had a trading volume of 10,855,962 shares, compared to its average volume of 14,460,014. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The business's 50 day moving average is $674.77 and its two-hundred day moving average is $634.35. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.76 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, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 earnings per share. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders 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 payout ratio is 8.19%.
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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