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Global Strategic Investment Solutions LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 6.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,124 shares of the social networking company’s stock after selling 73 shares during the period. Global Strategic Investment Solutions LLC’s holdings in Meta Platforms were worth $648,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Investment Counsel Inc boosted its holdings in Meta Platforms by 5.6% in the 1st quarter. Capital Investment Counsel Inc now owns 10,404 shares of the social networking company’s stock worth $5,996,000 after buying an additional 550 shares during the period. First Horizon Advisors Inc. boosted its holdings in Meta Platforms by 0.9% in the 1st quarter. First Horizon Advisors Inc. now owns 37,284 shares of the social networking company’s stock worth $21,490,000 after buying an additional 344 shares during the period. Revisor Wealth Management LLC boosted its holdings in Meta Platforms by 22.2% in the 1st quarter. Revisor Wealth Management LLC now owns 2,711 shares of the social networking company’s stock worth $1,562,000 after buying an additional 492 shares during the period. Baskin Financial Services Inc. boosted its holdings in Meta Platforms by 10.2% in the 1st quarter. Baskin Financial Services Inc. now owns 36,450 shares of the social networking company’s stock worth $21,008,000 after buying an additional 3,379 shares during the period. Finally, FSR Wealth Management Ltd. lifted its stake in Meta Platforms by 3.9% in the 1st quarter. FSR Wealth Management Ltd. now owns 3,015 shares of the social networking company’s stock worth $1,738,000 after purchasing an additional 114 shares in the last quarter. 79.91% of the stock is owned by institutional investors.
Meta Platforms Stock Up 0.5%
NASDAQ:META opened at $716.91 on Monday. The stock has a market capitalization of $1.80 trillion, a P/E ratio of 27.96, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company’s 50-day simple moving average is $658.89 and its 200-day simple moving average is $630.28. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $4.71 EPS. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s payout ratio is currently 8.19%.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Bank of America increased their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, June 12th. TD Securities lowered their target price on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities increased their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Cantor Fitzgerald increased their target price on shares of Meta Platforms from $676.00 to $807.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 18th. Finally, Monness Crespi & Hardt increased their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $719.29.
Read Our Latest Stock Report on META
Insiders Place Their Bets
In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, the chief executive officer directly owned 118,279 shares of the company’s stock, valued at approximately $82,928,955.27. This trade represents a 10.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares of the company’s stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,677 shares of company stock valued at $105,221,340. 13.61% of the stock is owned by insiders.
Meta Platforms Company 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.
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