Weaver Capital Management LLC Has $3.22 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Weaver Capital Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,585 shares of the social networking company's stock after acquiring an additional 375 shares during the quarter. Meta Platforms accounts for about 0.9% of Weaver Capital Management LLC's investment portfolio, making the stock its 26th biggest position. Weaver Capital Management LLC's holdings in Meta Platforms were worth $3,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms during the fourth quarter valued at $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth $47,000. Finally, Principia Wealth Advisory LLC lifted its position in shares of Meta Platforms by 53.6% in the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Up 2.0%

NASDAQ META traded up $13.67 during trading on Tuesday, reaching $712.20. 13,806,658 shares of the company's stock were exchanged, compared to its average volume of 14,499,646. The company's fifty day simple moving average is $625.25 and its 200-day simple moving average is $624.38. 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 firm has a market capitalization of $1.79 trillion, a PE ratio of 27.78, a P/E/G ratio of 1.72 and a beta of 1.26. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 EPS. The company's revenue was up 16.1% compared to the same quarter last year. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 0.29%. Meta Platforms's dividend payout ratio is 8.19%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 500 shares of Meta Platforms stock in a transaction on Friday, June 20th. The shares were sold at an average price of $700.38, for a total value of $350,190.00. Following the completion of the sale, the chief executive officer now owns 85,119 shares of the company's stock, valued at approximately $59,615,645.22. The trade was a 0.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer now directly owns 1,183 shares in the company, valued at $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 90 days, insiders sold 110,002 shares of company stock valued at $73,353,340. Insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Stifel Nicolaus boosted their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Rosenblatt Securities increased their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. UBS Group raised their target price on Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Citigroup upped their price target on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $712.69.

Meta Platforms Profile

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.