Claro Advisors LLC Has $6.49 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Claro Advisors LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 12.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 13,359 shares of the social networking company’s stock after purchasing an additional 1,482 shares during the period. Meta Platforms accounts for approximately 1.1% of Claro Advisors LLC’s portfolio, making the stock its 16th largest position. Claro Advisors LLC’s holdings in Meta Platforms were worth $6,487,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. CCG Wealth Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at about $2,039,000. Miracle Mile Advisors LLC increased its holdings in Meta Platforms by 2.8% in the first quarter. Miracle Mile Advisors LLC now owns 35,550 shares of the social networking company’s stock worth $17,262,000 after purchasing an additional 954 shares in the last quarter. MGO Private Wealth LLC lifted its stake in Meta Platforms by 40.3% in the first quarter. MGO Private Wealth LLC now owns 843 shares of the social networking company’s stock valued at $409,000 after buying an additional 242 shares during the period. LifeGuide Financial Advisors LLC bought a new position in shares of Meta Platforms during the 1st quarter worth approximately $206,000. Finally, Little House Capital LLC grew its position in shares of Meta Platforms by 79.2% during the 1st quarter. Little House Capital LLC now owns 14,786 shares of the social networking company’s stock worth $7,180,000 after buying an additional 6,534 shares during the period. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Nicholas Clegg sold 1,135 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $535,549.75. Following the completion of the sale, the insider now owns 8,753 shares in the company, valued at approximately $4,130,103.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold 218,086 shares of company stock worth $106,423,370 in the last ninety days. 13.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Loop Capital dropped their target price on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Canaccord Genuity Group reduced their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company dropped their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $545.00 price objective (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Meta Platforms Price Performance

META opened at $504.68 on Tuesday. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.31 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $480.46 and a 200-day moving average price of $456.83.

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

Meta Platforms Dividend Announcement

The firm also recently announced 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. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

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.