Unique Wealth LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 342.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,330 shares of the social networking company's stock after buying an additional 3,352 shares during the quarter. Unique Wealth LLC's holdings in Meta Platforms were worth $2,496,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Meta Platforms in the fourth quarter valued at $19,949,512,000. GAMMA Investing LLC boosted its holdings in Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after acquiring an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after acquiring an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Meta Platforms in the fourth quarter valued at $2,243,603,000. Finally, Northern Trust Corp boosted its holdings in Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after acquiring an additional 2,787,832 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
META has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Guggenheim boosted their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Susquehanna dropped their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group dropped their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Evercore ISI boosted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $702.48.
View Our Latest Research Report on Meta Platforms
Meta Platforms Trading Down 0.5%
Meta Platforms stock opened at $684.62 on Friday. The firm has a 50 day moving average of $585.44 and a 200 day moving average of $613.90. The firm has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 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 the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the firm posted $4.71 EPS. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms's payout ratio is 8.19%.
Insiders Place Their Bets
In other Meta Platforms news, 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 value of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total value of $348,249.00. Following the completion of the sale, the insider now owns 29,702 shares in the company, valued at approximately $19,930,042. The trade was a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,171 shares of company stock worth $35,163,457 in the last three months. 13.61% of the stock is owned by company insiders.
About Meta Platforms
(
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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