United Capital Management of KS Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,040 shares of the social networking company's stock, valued at approximately $599,000.
Other institutional investors have also recently modified their holdings of the company. Inlight Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms during the 1st quarter valued at $33,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter valued at $45,000. Finally, JCIC Asset Management Inc. grew its stake in shares of Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after buying an additional 40 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 60,000 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the completion of the transaction, the insider owned 237,205 shares in the company, valued at approximately $184,059,219.75. This trade represents a 20.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 268,251 shares of company stock worth $199,981,827. 13.61% of the stock is currently owned by company insiders.
Meta Platforms Price Performance
Meta Platforms stock traded down $17.86 during trading hours on Monday, hitting $767.37. 16,482,270 shares of the company traded hands, compared to its average volume of 12,961,045. The firm has a market cap of $1.93 trillion, a P/E ratio of 27.78, a P/E/G ratio of 1.63 and a beta of 1.27. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The firm's 50-day simple moving average is $725.90 and its two-hundred day simple moving average is $655.75. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.75 by $1.39. The business had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business's revenue was up 21.6% on a year-over-year basis. During the same period last year, the firm posted $5.16 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's payout ratio is 7.60%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on META shares. Raymond James Financial upped their price target on shares of Meta Platforms from $750.00 to $900.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. TD Securities decreased their price target on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Oppenheimer upped their price target on shares of Meta Platforms from $775.00 to $870.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Citizens Jmp upped their price target on shares of Meta Platforms from $750.00 to $900.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Hsbc Global Res raised shares of Meta Platforms from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $822.41.
Check Out Our Latest Analysis on Meta Platforms
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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