Vontobel Holding Ltd. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,470 shares of the social networking company's stock after selling 28,639 shares during the quarter. Vontobel Holding Ltd.'s holdings in Meta Platforms were worth $84,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of META. Valley Financial Group Inc. raised its stake in Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC grew its holdings in Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after buying an additional 14 shares in the last quarter. Maiden Cove Capital LLC grew its holdings in Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after buying an additional 15 shares in the last quarter. Riverwater Partners LLC grew its holdings in Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after buying an additional 15 shares in the last quarter. Finally, ABLE Financial Group LLC grew its holdings in Meta Platforms by 0.7% during the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock valued at $1,251,000 after buying an additional 15 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Stock Performance
Shares of META stock opened at $716.91 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The stock has a 50 day moving average price of $658.89 and a two-hundred day moving average price of $629.81. The company has a market capitalization of $1.80 trillion, a P/E ratio of 27.96, a PEG ratio of 1.76 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last announced 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 return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. The business's revenue was up 16.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed 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 0.29%. Meta Platforms's payout ratio is currently 8.19%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on META shares. Loop Capital lifted their target price on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. Moffett Nathanson lifted their target price on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their target price on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Rosenblatt Securities lifted their target price on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Morgan Stanley lifted their target price on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $719.29.
Read Our Latest Research Report on Meta Platforms
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total value of $382,503.00. Following the transaction, the insider owned 27,626 shares of the company's stock, valued at approximately $20,360,362. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,285 shares of company stock worth $105,518,153. 13.61% of the stock is currently owned by insiders.
About Meta Platforms
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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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