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Quilter Plc increased its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 10.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 210,014 shares of the social networking company’s stock after purchasing an additional 19,072 shares during the quarter. Meta Platforms comprises 2.5% of Quilter Plc’s investment portfolio, making the stock its 11th largest holding. Quilter Plc’s holdings in Meta Platforms were worth $121,044,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of META. Inlight Wealth Management LLC acquired a new position in Meta Platforms during the 1st quarter worth approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms in the 4th quarter worth $45,000. Finally, JCIC Asset Management Inc. grew its position in Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock valued at $46,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Price Performance
META opened at $738.09 on Tuesday. The firm has a 50-day moving average price of $643.58 and a 200-day moving average price of $627.27. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.80 and a beta of 1.26.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating 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 business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the business earned $4.71 EPS. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. Equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.28%. Meta Platforms’s payout ratio is 8.19%.
Insider Buying and Selling
In other Meta Platforms news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $683.47, for a total transaction of $353,353.99. Following the completion of the transaction, the chief operating officer owned 8,370 shares of the company’s stock, valued at $5,720,643.90. The trade was a 5.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert M. Kimmitt sold 465 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $699.27, for a total value of $325,160.55. Following the sale, the director owned 9,807 shares in the company, valued at approximately $6,857,740.89. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,095 shares of company stock worth $93,076,345. Company insiders own 13.61% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on META. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Evercore ISI raised their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Bank of America boosted their price objective on Meta Platforms from $690.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Finally, Scotiabank lowered their price objective on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $719.52.
Check Out Our Latest Analysis on META
About Meta Platforms
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.
See Also
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Free Report).
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