Traveka Wealth LLC Has $2.82 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Traveka Wealth LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 18.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,896 shares of the social networking company's stock after purchasing an additional 756 shares during the period. Meta Platforms accounts for approximately 1.6% of Traveka Wealth LLC's portfolio, making the stock its 17th biggest position. Traveka Wealth LLC's holdings in Meta Platforms were worth $2,822,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Valley Financial Group Inc. boosted its holdings in shares of Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after acquiring an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after purchasing an additional 14 shares during the period. Maiden Cove Capital LLC lifted its stake in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares during the period. Riverwater Partners LLC lifted its stake in shares of Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after purchasing an additional 15 shares during the period. Finally, ABLE Financial Group LLC increased its position in shares of Meta Platforms by 0.7% in the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock valued at $1,251,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. TD Cowen increased their target price on Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a report on Wednesday. Robert W. Baird raised their target price on shares of Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Truist Financial raised their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company raised their price objective on shares of Meta Platforms from $664.00 to $783.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Pivotal Research lowered their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $727.95.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $727.24 on Friday. 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 $1.83 trillion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.80 and a beta of 1.28. The firm's fifty day moving average is $672.36 and its 200-day moving average is $633.41. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90.

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 (EPS) 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 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 previous year, the company earned $4.71 EPS. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders 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 dividend payout ratio (DPR) is 8.19%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $721.57, for a total transaction of $374,494.83. Following the completion of the transaction, the insider owned 27,107 shares in the company, valued at $19,559,597.99. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,792 shares of company stock worth $105,466,325. 13.61% of the stock is owned by company insiders.

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.

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