Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by City National Bank of Florida MSD

City National Bank of Florida MSD boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 23.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,167 shares of the social networking company’s stock after acquiring an additional 224 shares during the quarter. City National Bank of Florida MSD’s holdings in Meta Platforms were worth $673,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in META. Csenge Advisory Group lifted its position in shares of Meta Platforms by 12.0% during the 1st quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company’s stock worth $5,498,000 after buying an additional 1,019 shares during the last quarter. Suvretta Capital Management LLC raised its stake in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP lifted its position in Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after acquiring an additional 43,200 shares during the last quarter. ARQ Wealth Advisors LLC boosted its stake in Meta Platforms by 4.5% in the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock valued at $452,000 after acquiring an additional 34 shares in the last quarter. Finally, JMG Financial Group Ltd. purchased a new position in shares of Meta Platforms during the first quarter worth about $284,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.3%

Shares of Meta Platforms stock opened at $712.68 on Monday. Meta Platforms, Inc. has a 1 year low of $450.80 and a 1 year high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The business has a 50 day moving average price of $692.48 and a 200 day moving average price of $642.00. The company has a market capitalization of $1.79 trillion, a P/E ratio of 27.80, a P/E/G ratio of 1.71 and a beta of 1.28.

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

Meta Platforms Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Moffett Nathanson boosted their target price on Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Wells Fargo & Company boosted 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. Cantor Fitzgerald increased their price objective on Meta Platforms from $807.00 to $828.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Pivotal Research lowered their target price on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $752.33.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer directly owned 70,040 shares of the company’s stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares in the company, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,865 shares of company stock valued at $105,467,671. Company insiders own 13.61% of the company’s stock.

Meta Platforms Company 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.