Navis Wealth Advisors LLC Invests $828,000 in Meta Platforms, Inc. (NASDAQ:META)

Navis Wealth Advisors LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the 1st quarter, HoldingsChannel reports. The fund acquired 1,436 shares of the social networking company’s stock, valued at approximately $828,000. Meta Platforms comprises about 0.8% of Navis Wealth Advisors LLC’s investment portfolio, making the stock its 26th largest holding.

Several other large investors also recently added to or reduced their stakes in META. Fjell Capital LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $1,836,000. Opulen Financial Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $325,000. Daner Wealth Management LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $334,000. Brighton Jones LLC increased its holdings in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after acquiring an additional 570 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Meta Platforms in the 4th quarter worth about $112,406,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $726.09 on Friday. The business has a 50 day moving average of $633.87 and a 200 day moving average of $625.73. The company has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.74 and a beta of 1.26. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total transaction of $9,796,340.32. Following the transaction, the chief executive officer now directly owns 57,533 shares of the company’s stock, valued at approximately $40,862,237.92. The trade was a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,831 shares of company stock worth $83,868,872 in the last three months. 13.61% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on META shares. Morgan Stanley lifted their target price on Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, May 1st. Guggenheim lifted their target price on Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Cantor Fitzgerald lifted their target price on Meta Platforms from $676.00 to $807.00 and gave the company an “overweight” rating in a report on Wednesday, June 18th. Finally, Jefferies Financial Group reduced their target price on Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $715.76.

About Meta Platforms

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.