E&G Advisors LP Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

E&G Advisors LP grew its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 5.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,138 shares of the social networking company’s stock after purchasing an additional 351 shares during the period. Meta Platforms makes up about 1.1% of E&G Advisors LP’s holdings, making the stock its 17th largest holding. E&G Advisors LP’s holdings in Meta Platforms were worth $3,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. BluePath Capital Management LLC grew its position in Meta Platforms by 12.8% in the first quarter. BluePath Capital Management LLC now owns 3,382 shares of the social networking company’s stock worth $1,642,000 after acquiring an additional 383 shares during the period. Redmont Wealth Advisors LLC purchased a new position in shares of Meta Platforms during the first quarter worth $74,000. Leeward Financial Partners LLC purchased a new position in shares of Meta Platforms during the first quarter worth $286,000. Santori & Peters Inc. purchased a new position in shares of Meta Platforms during the first quarter worth $219,000. Finally, Marest Capital LLC boosted its position in shares of Meta Platforms by 0.8% during the first quarter. Marest Capital LLC now owns 3,888 shares of the social networking company’s stock worth $1,889,000 after buying an additional 31 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of META stock opened at $509.96 on Friday. The stock has a market capitalization of $1.29 trillion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The stock’s 50-day moving average price is $482.42 and its 200 day moving average price is $458.78. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $517.75, for a total value of $253,697.50. Following the transaction, the chief operating officer now owns 7,579 shares in the company, valued at approximately $3,924,027.25. The disclosure for this sale can be found here. Insiders have sold 251,905 shares of company stock worth $123,528,726 in the last quarter. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays lowered their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. The Goldman Sachs Group lowered their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada reduced their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, KeyCorp increased their price objective on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.

Check Out Our Latest Stock Report on Meta Platforms

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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