Myecfo LLC Buys 184 Shares of Meta Platforms, Inc. (NASDAQ:META)

Myecfo LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 22.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 993 shares of the social networking company’s stock after purchasing an additional 184 shares during the quarter. Myecfo LLC’s holdings in Meta Platforms were worth $482,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in META. Beaird Harris Wealth Management LLC lifted its position in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the period. Quest Partners LLC purchased a new position in Meta Platforms during the fourth quarter valued at $32,000. Clear Investment Research LLC lifted its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Cranbrook Wealth Management LLC lifted its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms during the fourth quarter valued at $39,000. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total value of $8,502,988.20. Following the transaction, the chief executive officer now directly owns 186,826 shares of the company’s stock, valued at approximately $95,113,116.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $509.10, for a total value of $8,502,988.20. Following the sale, the chief executive officer now owns 186,826 shares in the company, valued at approximately $95,113,116.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 252,395 shares of company stock valued at $123,781,816. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on META shares. Roth Mkm raised their price objective on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Truist Financial lowered their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Raymond James lifted their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday. Finally, Sanford C. Bernstein lowered their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Meta Platforms Stock Up 0.1 %

NASDAQ META opened at $509.96 on Thursday. The stock’s 50 day moving average is $481.05 and its 200 day moving average is $458.42. 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, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The stock has a market cap of $1.29 trillion, a PE ratio of 29.29, a P/E/G ratio of 1.31 and a beta of 1.21.

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

Meta Platforms Dividend Announcement

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

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.