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

Traveka Wealth LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,896 shares of the social networking company's stock after buying an additional 756 shares during the quarter. Meta Platforms accounts for approximately 1.6% of Traveka Wealth LLC's investment portfolio, making the stock its 17th biggest holding. Traveka Wealth LLC's holdings in Meta Platforms were worth $2,822,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the sale, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. The trade was a 10.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owned 1,183 shares of the company's stock, valued at $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. Insiders have sold a total of 153,792 shares of company stock valued at $105,466,325 in the last 90 days. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

META stock traded down $9.73 during trading on Friday, reaching $717.51. 10,855,962 shares of the company's stock were exchanged, compared to its average volume of 10,898,584. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The firm has a market cap of $1.80 trillion, a PE ratio of 28.36, a P/E/G ratio of 1.78 and a beta of 1.28. The company's fifty day moving average price is $672.36 and its 200-day moving average price is $633.41. 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 (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, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.71 earnings per share. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a dividend of $0.525 per share. 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 payout ratio is presently 8.19%.

Analyst Ratings Changes

Several research analysts recently commented on META shares. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Guggenheim raised their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. TD Securities reduced their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Oppenheimer lifted their price objective on Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Finally, Barclays decreased their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company 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. According to MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $729.38.

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.