Quattro Financial Advisors LLC Acquires 9,646 Shares of Meta Platforms, Inc. (NASDAQ:META)

Quattro Financial Advisors LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2,724.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,000 shares of the social networking company’s stock after acquiring an additional 9,646 shares during the period. Meta Platforms accounts for 1.4% of Quattro Financial Advisors LLC’s portfolio, making the stock its 23rd largest position. Quattro Financial Advisors LLC’s holdings in Meta Platforms were worth $4,856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Financial Security Advisor Inc. increased its stake in Meta Platforms by 4.8% in the first quarter. Financial Security Advisor Inc. now owns 1,894 shares of the social networking company’s stock valued at $919,000 after purchasing an additional 86 shares in the last quarter. State of Michigan Retirement System raised its stake in Meta Platforms by 4.9% during the 1st quarter. State of Michigan Retirement System now owns 863,614 shares of the social networking company’s stock worth $419,354,000 after buying an additional 40,100 shares during the period. Dash Acquisitions Inc. raised its stake in Meta Platforms by 1.3% during the 1st quarter. Dash Acquisitions Inc. now owns 53,370 shares of the social networking company’s stock worth $26,374,000 after buying an additional 702 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Meta Platforms by 1.1% during the first quarter. Capital Advisors Ltd. LLC now owns 3,290 shares of the social networking company’s stock worth $1,598,000 after acquiring an additional 36 shares in the last quarter. Finally, Applied Capital LLC FL grew its stake in Meta Platforms by 20.8% in the first quarter. Applied Capital LLC FL now owns 6,868 shares of the social networking company’s stock valued at $3,335,000 after acquiring an additional 1,181 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 8,951 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the sale, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,395 shares of company stock worth $123,781,816. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.1 %

Shares of META opened at $509.96 on Thursday. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The firm’s 50 day moving average is $481.05 and its 200-day moving average is $458.42. The stock has a market capitalization of $1.29 trillion, a PE ratio of 29.29, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Equities research analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Monday. Stifel Nicolaus upped their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup dropped their price objective on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a research note on Monday, April 22nd. Finally, Truist Financial dropped their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued 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 a consensus price target of $511.27.

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.