Petros Family Wealth LLC Grows Holdings in Meta Platforms, Inc. (NASDAQ:META)

Petros Family Wealth LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,534 shares of the social networking company’s stock after buying an additional 211 shares during the period. Meta Platforms makes up about 1.0% of Petros Family Wealth LLC’s holdings, making the stock its 27th biggest holding. Petros Family Wealth LLC’s holdings in Meta Platforms were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Norges Bank purchased a new position in Meta Platforms in the 4th quarter worth approximately $19,949,512,000. GAMMA Investing LLC lifted its holdings in shares of Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after acquiring an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $2,243,603,000. Finally, Northern Trust Corp lifted its holdings in shares of Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after acquiring an additional 2,787,832 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total transaction of $453,012.27. Following the transaction, the insider now owns 27,498 shares in the company, valued at approximately $13,525,441.26. This represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 406 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares in the company, valued at $2,265,707.52. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,831 shares of company stock valued at $83,868,872. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Up 2.5%

NASDAQ:META opened at $726.09 on Friday. The firm’s 50-day moving average price is $633.87 and its 200-day moving average price is $625.73. The company has a market capitalization of $1.83 trillion, a PE ratio of 28.32, a P/E/G ratio of 1.74 and a beta of 1.26. 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, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for 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%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.71 EPS. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. 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 (DPR) is 8.19%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on META. JMP Securities restated a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a report on Wednesday, April 30th. Citigroup boosted their price objective on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley boosted their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Raymond James Financial lowered their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a report on Thursday, May 1st. Finally, Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $715.76.

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.