Xcel Wealth Management LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,228 shares of the social networking company's stock after selling 626 shares during the period. Xcel Wealth Management LLC's holdings in Meta Platforms were worth $2,437,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Valley Financial Group Inc. lifted its holdings in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after buying an additional 14 shares in the last quarter. Maiden Cove Capital LLC lifted its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after buying an additional 15 shares in the last quarter. Riverwater Partners LLC lifted its holdings in shares of Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after buying an additional 15 shares in the last quarter. Finally, ABLE Financial Group LLC lifted its holdings in shares of Meta Platforms by 0.7% in the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after buying an additional 15 shares in the last quarter. Institutional investors own 79.91% of the company's stock.
Meta Platforms Price Performance
META stock traded up $2.32 during trading hours on Tuesday, hitting $720.67. 7,751,333 shares of the stock traded hands, compared to its average volume of 14,497,486. The stock has a 50-day simple moving average of $662.26 and a 200 day simple moving average of $631.21. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The company has a market cap of $1.81 trillion, a P/E ratio of 28.11, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 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 during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the business posted $4.71 earnings per share. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.
Analyst Ratings Changes
Several research firms have recently commented on META. Guggenheim boosted their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. Susquehanna decreased their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Pivotal Research decreased their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald upped their price target on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Five equities 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $724.98.
Get Our Latest Analysis on Meta Platforms
Insider Buying and Selling
In related news, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $740.97, for a total value of $383,081.49. Following the completion of the sale, the chief operating officer directly owned 7,853 shares of the company's stock, valued at approximately $5,818,837.41. This represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $737.00, for a total value of $382,503.00. Following the sale, the insider directly owned 27,626 shares of the company's stock, valued at $20,360,362. This trade represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,756 shares of company stock valued at $104,720,878. Corporate insiders own 13.61% of the company's stock.
About Meta Platforms
(
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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