Seamount Financial Group Inc. decreased its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 57.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 644 shares of the social networking company’s stock after selling 863 shares during the period. Seamount Financial Group Inc.’s holdings in Meta Platforms were worth $368,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after acquiring an additional 875 shares during the last quarter. Headwater Capital Co Ltd lifted its holdings in shares of Meta Platforms by 294.7% in the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after acquiring an additional 112,000 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. purchased a new position in shares of Meta Platforms during the 2nd quarter worth approximately $213,000. Finally, Capital & Planning LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at approximately $322,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on META. Erste Group Bank upgraded Meta Platforms from a “hold” rating to a “buy” rating in a research note on Tuesday. UBS Group downgraded Meta Platforms from a “buy” rating to a “neutral” rating in a report on Tuesday, June 2nd. Wedbush raised Meta Platforms from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Mizuho cut their price target on shares of Meta Platforms from $850.00 to $835.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Roth Capital restated a “buy” rating on shares of Meta Platforms in a report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $840.64.
Insider Activity
In related news, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer owned 414 shares of the company’s stock, valued at $251,641.62. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Curtis J. Mahoney sold 2,079 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total value of $1,268,023.68. Following the completion of the sale, the insider owned 1,118 shares in the company, valued at approximately $681,890.56. This represents a 65.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 39,513 shares of company stock worth $24,419,874. 13.53% of the stock is currently owned by company insiders.
Meta Platforms Stock Performance
Shares of META opened at $615.58 on Wednesday. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25. The stock has a market capitalization of $1.56 trillion, a PE ratio of 22.38, a PEG ratio of 1.06 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a 50-day simple moving average of $600.41 and a 200-day simple moving average of $627.42.
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.43 earnings per share. On average, analysts predict that Meta Platforms, Inc. will post 29.46 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 15th. Meta Platforms’s payout ratio is 7.63%.
Key Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta launched Muse Image, a new AI image-generation tool inside Meta AI for consumers and businesses. The rollout could help increase engagement across Instagram, WhatsApp and other apps, while giving advertisers and creators a new reason to use Meta’s ecosystem. Meta expands generative AI tools with Muse Image rollout
- Positive Sentiment: Erste Group Bank upgraded Meta from hold to buy, adding to bullish sentiment around the stock. Meta Platforms (NASDAQ:META) Raised to “Buy” at Erste Group Bank
- Positive Sentiment: Truist Securities also reiterated a Buy view and an $840 price target, reinforcing the case that Wall Street still sees meaningful upside in META.
Meta Platforms Profile
Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
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