Von Berge Wealth Management Group LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 30.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,746 shares of the social networking company's stock after buying an additional 1,350 shares during the quarter. Meta Platforms accounts for 2.0% of Von Berge Wealth Management Group LLC's holdings, making the stock its 15th largest holding. Von Berge Wealth Management Group LLC's holdings in Meta Platforms were worth $3,064,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Inlight Wealth Management LLC purchased a new stake in Meta Platforms during the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms in the first quarter valued at approximately $28,000. Millstone Evans Group LLC purchased a new position in Meta Platforms in the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at $45,000. 79.91% of the stock is owned by institutional investors and hedge funds.
Meta Platforms Price Performance
META traded down $0.66 on Monday, reaching $718.35. The company had a trading volume of 9,438,384 shares, compared to its average volume of 14,524,462. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $658.89 and a 200-day moving average of $630.28. The company has a market capitalization of $1.81 trillion, a P/E ratio of 28.02, a PEG ratio of 1.76 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. The company's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.71 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend 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 currently 8.19%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on META shares. Needham & Company LLC raised Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday. Oppenheimer upped their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a report on Monday, June 16th. Evercore ISI increased their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company reaffirmed an "overweight" rating and set a $664.00 price target on shares of Meta Platforms in a research report on Tuesday, June 17th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $740.00 target price on shares of Meta Platforms 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $719.29.
Check Out Our Latest Report on Meta Platforms
Insider Activity
In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction dated 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 directly owned 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,677 shares of company stock valued at $105,221,340 over the last 90 days. 13.61% of the stock is currently owned by company insiders.
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.
Further Reading
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