Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Integrated Capital Management LLC

Integrated Capital Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402 shares of the social networking company’s stock after buying an additional 21 shares during the quarter. Integrated Capital Management LLC’s holdings in Meta Platforms were worth $232,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. 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 valued at $20,230,000 after purchasing an additional 570 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after purchasing an additional 875 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Meta Platforms by 3.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company’s stock valued at $129,666,000 after buying an additional 7,587 shares in the last quarter. Highview Capital Management LLC DE grew its stake in shares of Meta Platforms by 3.7% in the fourth quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company’s stock valued at $3,624,000 after buying an additional 218 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $2,243,603,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META opened at $714.80 on Friday. The firm’s 50-day simple moving average is $691.04 and its 200 day simple moving average is $640.92. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 1.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping 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 firm earned $4.71 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders 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 annualized dividend and a yield of 0.29%. Meta Platforms’s payout ratio is 8.19%.

Analyst Ratings Changes

Several equities analysts have commented on META shares. Stifel Nicolaus raised their price target on shares of Meta Platforms from $655.00 to $845.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group decreased 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. DA Davidson cut their price target on Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company lifted their price objective on Meta Platforms from $664.00 to $783.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Finally, Evercore ISI upped their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $752.33.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the sale, the chief technology officer owned 1,183 shares of the company’s stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the sale, the chief executive officer directly owned 118,279 shares of the company’s stock, valued at $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,473 shares of company stock worth $105,805,440 over the last quarter. Company insiders own 13.61% of the company’s stock.

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.