Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Code Waechter LLC

Code Waechter LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,120 shares of the social networking company’s stock after purchasing an additional 47 shares during the period. Code Waechter LLC’s holdings in Meta Platforms were worth $646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC boosted its stake in shares of Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP lifted its stake 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 valued at $44,616,000 after buying an additional 43,200 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its stake 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 valued at $1,001,044,000 after buying an additional 1,229,350 shares in the last quarter. Quantinno Capital Management LP lifted its stake 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 valued at $215,760,000 after buying an additional 73,907 shares in the last quarter. Finally, Arcadia Wealth Management Inc. purchased a new position in Meta Platforms in the 4th quarter valued at about $600,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,361 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total value of $374,494.83. Following the sale, the insider directly owned 27,107 shares in the company, valued at $19,559,597.99. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,263 shares of company stock valued at $104,638,750. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 0.5%

Shares of NASDAQ META opened at $720.92 on Tuesday. The firm has a market cap of $1.81 trillion, a price-to-earnings ratio of 28.12, a PEG ratio of 1.76 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90. The business’s 50 day moving average is $677.20 and its two-hundred day moving average is $635.41.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the company earned $4.71 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s dividend payout ratio is currently 8.19%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on META shares. Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Moffett Nathanson raised their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Oppenheimer raised their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the company an “outperform” rating in a research note on Monday, June 16th. 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 note on Thursday, May 1st. Finally, 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. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $729.38.

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.