Spirepoint Private Client LLC Invests $1.06 Million in Meta Platforms, Inc. (NASDAQ:META)

Spirepoint Private Client LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,187 shares of the social networking company’s stock, valued at approximately $1,062,000.

A number of other large investors also recently added to or reduced their stakes in META. Intech Investment Management LLC increased its stake in Meta Platforms by 2.2% in the 1st quarter. Intech Investment Management LLC now owns 495,679 shares of the social networking company’s stock worth $240,692,000 after purchasing an additional 10,821 shares during the period. Nicolet Advisory Services LLC raised its holdings in Meta Platforms by 2.8% during the 1st quarter. Nicolet Advisory Services LLC now owns 10,611 shares of the social networking company’s stock valued at $5,485,000 after buying an additional 287 shares during the last quarter. Councilmark Asset Management LLC purchased a new stake in Meta Platforms during the 1st quarter valued at $1,456,000. First Foundation Advisors grew its holdings in Meta Platforms by 2.4% in the 1st quarter. First Foundation Advisors now owns 20,020 shares of the social networking company’s stock worth $9,722,000 after acquiring an additional 472 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC increased its position in shares of Meta Platforms by 59.8% in the first quarter. Pinkerton Retirement Specialists LLC now owns 1,873 shares of the social networking company’s stock valued at $909,000 after acquiring an additional 701 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 1,712 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $502.27, for a total transaction of $859,886.24. Following the completion of the transaction, the chief executive officer now owns 129,888 shares in the company, valued at $65,238,845.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 1,712 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $502.27, for a total value of $859,886.24. Following the completion of the sale, the chief executive officer now directly owns 129,888 shares of the company’s stock, valued at approximately $65,238,845.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the business’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 $4,223,529.35. Following the transaction, the chief financial officer now directly owns 74,580 shares in the company, valued at approximately $35,190,573. The disclosure for this sale can be found here. Insiders sold 311,106 shares of company stock worth $154,542,945 in the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $0.94 during trading hours on Friday, hitting $476.79. The company’s stock had a trading volume of 15,149,416 shares, compared to its average volume of 13,694,282. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The business has a 50 day moving average price of $493.41 and a two-hundred day moving average price of $471.18. The company has a market cap of $1.21 trillion, a PE ratio of 27.39, a PEG ratio of 1.23 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm 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%. Analysts expect that Meta Platforms, Inc. will post 20.21 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on META shares. JMP Securities restated a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a report on Monday, April 22nd. TD Securities raised their price objective on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Citigroup reduced their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. BNP Paribas started coverage on Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price target on the stock. Finally, Truist Financial lowered their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $519.10.

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.