Vestia Personal Wealth Advisors Purchases 63 Shares of Meta Platforms, Inc. (NASDAQ:META)

Vestia Personal Wealth Advisors raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 410 shares of the social networking company’s stock after acquiring an additional 63 shares during the quarter. Vestia Personal Wealth Advisors’ holdings in Meta Platforms were worth $236,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Suvretta Capital Management LLC boosted its position in 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 valued at $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP boosted its position in shares of 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 worth $44,616,000 after purchasing an additional 43,200 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of 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 worth $1,001,044,000 after purchasing an additional 1,229,350 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of 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 worth $215,760,000 after purchasing an additional 73,907 shares in the last quarter. Finally, Arcadia Wealth Management Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $600,000. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated 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 completion of the transaction, the chief technology officer owned 1,183 shares of the company’s stock, valued at $753,393.55. This represents a 94.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer directly owned 70,040 shares of the company’s stock, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,263 shares of company stock valued at $104,638,750 in the last 90 days. Insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on META. DA Davidson dropped their price target on Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group boosted their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Citigroup boosted their price target on Meta Platforms from $690.00 to $803.00 and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Guggenheim boosted their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $729.38.

Meta Platforms Trading Up 0.5%

Shares of Meta Platforms stock opened at $720.92 on Tuesday. The company has a market capitalization of $1.81 trillion, a P/E ratio of 28.12, 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 has a fifty day moving average of $677.20 and a 200 day moving average of $635.41. 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) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.71 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a 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%.

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.