Proficio Capital Partners LLC Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Proficio Capital Partners LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,561 shares of the social networking company’s stock after purchasing an additional 566 shares during the period. Proficio Capital Partners LLC’s holdings in Meta Platforms were worth $4,642,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Modera Wealth Management LLC raised its holdings in shares of Meta Platforms by 8.5% in the third quarter. Modera Wealth Management LLC now owns 7,775 shares of the social networking company’s stock worth $2,334,000 after buying an additional 607 shares during the period. Raleigh Capital Management Inc. boosted its holdings in shares of Meta Platforms by 180.1% in the third quarter. Raleigh Capital Management Inc. now owns 902 shares of the social networking company’s stock valued at $271,000 after purchasing an additional 580 shares during the period. Financial Insights Inc. bought a new position in Meta Platforms in the third quarter worth approximately $719,000. Dagco Inc. increased its holdings in Meta Platforms by 4,788.7% during the 3rd quarter. Dagco Inc. now owns 52,847 shares of the social networking company’s stock worth $15,865,000 after purchasing an additional 51,766 shares during the period. Finally, Sunbelt Securities Inc. increased its holdings in Meta Platforms by 3.6% during the third quarter. Sunbelt Securities Inc. now owns 11,021 shares of the social networking company’s stock valued at $3,309,000 after buying an additional 378 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at $3,924,027.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 576 shares of Meta Platforms stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total value of $268,606.08. Following the sale, the insider now owns 36,067 shares of the company’s stock, valued at approximately $16,819,124.11. The disclosure for this sale can be found here. Insiders have sold a total of 294,768 shares of company stock valued at $146,314,257 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on META shares. Loop Capital reaffirmed a “buy” rating and set a $550.00 target price on shares of Meta Platforms in a research report on Wednesday, July 3rd. Citigroup dropped their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Wedbush dropped their price objective on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Guggenheim reduced their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $515.64.

Read Our Latest Analysis on META

Meta Platforms Stock Up 0.9 %

Shares of NASDAQ META opened at $534.69 on Thursday. The stock has a market cap of $1.36 trillion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The business has a 50-day moving average price of $490.20 and a 200 day moving average price of $464.66. 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 data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

About Meta Platforms

(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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