Carret Asset Management LLC Acquires 156 Shares of Meta Platforms, Inc. (NASDAQ:META)

Carret Asset Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 23,588 shares of the social networking company’s stock after purchasing an additional 156 shares during the quarter. Meta Platforms accounts for 1.5% of Carret Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Carret Asset Management LLC’s holdings in Meta Platforms were worth $13,595,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC increased its stake in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock worth $50,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 1,462 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $701.13, for a total value of $1,025,052.06. Following the completion of the sale, the chief executive officer now owns 139,538 shares of the company’s stock, valued at approximately $97,834,277.94. The trade was a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer now directly owns 70,040 shares of the company’s stock, valued at approximately $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 110,423 shares of company stock valued at $73,580,663 over the last three months. Insiders own 13.61% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $682.35 on Monday. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. 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 market capitalization of $1.72 trillion, a P/E ratio of 26.61, a P/E/G ratio of 1.68 and a beta of 1.26. The company has a fifty day moving average of $618.10 and a 200-day moving average of $623.24.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm posted $4.71 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio is presently 8.19%.

Analyst Ratings Changes

META has been the subject of several research analyst reports. TD Securities decreased their price target 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. Morgan Stanley raised their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, May 1st. Wells Fargo & Company restated an “overweight” rating and set a $664.00 price target on shares of Meta Platforms in a research note on Tuesday, June 17th. Finally, Barclays decreased their price target on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $710.00.

Read Our Latest Stock Analysis on META

Meta Platforms Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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