Monterey Private Wealth Inc. Purchases 24 Shares of Meta Platforms, Inc. (NASDAQ:META)

Monterey Private Wealth Inc. grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,379 shares of the social networking company’s stock after buying an additional 24 shares during the period. Monterey Private Wealth Inc.’s holdings in Meta Platforms were worth $670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baird Financial Group Inc. grew its position in Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after purchasing an additional 163,067 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Meta Platforms by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Donoghue Forlines LLC boosted its position in shares of Meta Platforms by 94.4% during the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after acquiring an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Meta Platforms by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after acquiring an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP grew its stake in Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after buying an additional 140,000 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META opened at $501.70 on Friday. The firm has a 50-day moving average of $479.38 and a 200-day moving average of $445.90. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49. The company has a market cap of $1.27 trillion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $505.75, for a total transaction of $208,369.00. Following the completion of the sale, the chief operating officer now owns 8,031 shares in the company, valued at approximately $4,061,678.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $505.75, for a total transaction of $208,369.00. Following the completion of the sale, the chief operating officer now owns 8,031 shares of the company’s stock, valued at approximately $4,061,678.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,169 shares of company stock worth $153,344,736. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on META. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Rosenblatt Securities upped their target price on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. KeyCorp increased their price objective on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JMP Securities restated a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.05.

About Meta Platforms

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.