Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 33.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,715 shares of the social networking company's stock after purchasing an additional 10,005 shares during the quarter. Meta Platforms makes up 0.8% of Summit Trail Advisors LLC's portfolio, making the stock its 18th biggest holding. Summit Trail Advisors LLC's holdings in Meta Platforms were worth $22,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new stake in Meta Platforms in the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Meta Platforms in the first quarter worth $28,000. Millstone Evans Group LLC bought a new position in Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth about $45,000. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the sale, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the sale, the chief financial officer owned 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,677 shares of company stock worth $105,221,340. 13.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Roth Capital lifted their price target on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Moffett Nathanson boosted their target price on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Morgan Stanley increased their price target on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $719.29.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $0.66 during midday trading on Monday, hitting $718.35. The company had a trading volume of 9,438,384 shares, compared to its average volume of 14,524,462. The company has a fifty day simple moving average of $658.89 and a 200 day simple moving average of $630.28. The stock has a market cap of $1.81 trillion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.76 and a beta of 1.28. 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.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $41.45 billion. During the same quarter last year, the company posted $4.71 earnings per share. The business's quarterly revenue was up 16.1% on a year-over-year basis. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.

Meta Platforms Company Profile

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.