Wealthfront Advisers LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 306,416 shares of the social networking company's stock after buying an additional 15,160 shares during the quarter. Meta Platforms comprises 0.5% of Wealthfront Advisers LLC's investment portfolio, making the stock its 28th largest holding. Wealthfront Advisers LLC's holdings in Meta Platforms were worth $176,606,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Suvretta Capital Management LLC lifted its holdings in Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after purchasing an additional 1,850 shares during the last quarter. Skye Global Management LP lifted its holdings in Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after purchasing an additional 43,200 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in Meta Platforms by 255.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after purchasing an additional 1,229,350 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Meta Platforms by 25.1% in the 4th quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock worth $215,760,000 after purchasing an additional 73,907 shares during the last quarter. Finally, Arcadia Wealth Management Inc. acquired a new stake in Meta Platforms in the 4th quarter worth approximately $600,000. Institutional investors own 79.91% of the company's stock.
Meta Platforms Price Performance
Shares of META stock traded up $2.87 during trading hours on Friday, hitting $704.28. 12,743,944 shares of the company's stock were exchanged, compared to its average volume of 14,336,421. The stock's 50-day moving average is $686.09 and its 200-day moving average is $638.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market cap of $1.77 trillion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) 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 business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 earnings per share. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS 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 paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is 8.19%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on META shares. Scotiabank reduced their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. Evercore ISI upped their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Benchmark cut their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley upped their price target on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Bank of America upped their price target on Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $736.05.
Read Our Latest Analysis on META
Insider Buying and Selling at Meta Platforms
In related news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares of the company's stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,764 shares of company stock valued at $105,721,208. 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.
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