Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Davidson Trust Co.

Davidson Trust Co. boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 69.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,255 shares of the social networking company’s stock after buying an additional 515 shares during the quarter. Davidson Trust Co.’s holdings in Meta Platforms were worth $723,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Suvretta Capital Management LLC grew its position in Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after buying an additional 1,850 shares during the last quarter. Skye Global Management LP boosted 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 worth $44,616,000 after purchasing an additional 43,200 shares during the period. Kovitz Investment Group Partners LLC boosted 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 worth $1,001,044,000 after purchasing an additional 1,229,350 shares during the period. Quantinno Capital Management LP boosted 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 worth $215,760,000 after purchasing an additional 73,907 shares during the period. Finally, Arcadia Wealth Management Inc. acquired a new position in Meta Platforms in the 4th quarter worth approximately $600,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $718.35 on Tuesday. The company has a market capitalization of $1.81 trillion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company’s fifty day moving average price is $662.26 and its 200 day moving average price is $631.21.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the firm posted $4.71 EPS. The business’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share 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 issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 8.19%.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 22,449 shares of the business’s 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 transaction, the chief technology officer owned 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer owned 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,756 shares of company stock worth $104,720,878. 13.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on META shares. Moffett Nathanson raised their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Robert W. Baird raised their price objective on shares of Meta Platforms from $635.00 to $740.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. UBS Group reaffirmed a “buy” rating and issued a $812.00 price objective (up previously from $683.00) on shares of Meta Platforms in a research note on Thursday, June 26th. Guggenheim raised their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, TD Securities decreased their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $719.29.

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.