Visionary Horizons LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,113 shares of the social networking company's stock after buying an additional 428 shares during the period. Visionary Horizons LLC's holdings in Meta Platforms were worth $642,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of META. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms during the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Meta Platforms during the 4th quarter valued at $47,000. Finally, Principia Wealth Advisory LLC grew its stake in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after acquiring an additional 30 shares during the period. Institutional investors own 79.91% of the company's stock.
Insider Transactions at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 7,802 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $701.96, for a total value of $5,476,691.92. Following the transaction, the chief executive officer now directly owns 110,477 shares of the company's stock, valued at approximately $77,550,434.92. This trade represents a 6.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 70,040 shares of the company's stock, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,201 shares of company stock worth $56,377,837 in the last ninety days. Insiders own 13.61% of the company's stock.
Analyst Ratings Changes
Several research firms recently commented on META. Truist Financial raised their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Rosenblatt Securities upped their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Moffett Nathanson boosted their target price on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Evercore ISI boosted their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Scotiabank lowered their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $704.26.
View Our Latest Analysis on Meta Platforms
Meta Platforms Stock Performance
NASDAQ META traded down $10.49 during trading hours on Friday, hitting $682.87. The company's stock had a trading volume of 9,259,272 shares, compared to its average volume of 14,501,070. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company's 50 day simple moving average is $600.62 and its two-hundred day simple moving average is $618.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market cap of $1.72 trillion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating 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 firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the previous year, the company earned $4.71 earnings per share. The firm's quarterly revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms's payout ratio is 8.19%.
Meta Platforms Profile
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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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