Miracle Mile Advisors LLC Buys 954 Shares of Meta Platforms, Inc. (NASDAQ:META)

Miracle Mile Advisors LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,550 shares of the social networking company’s stock after acquiring an additional 954 shares during the period. Miracle Mile Advisors LLC’s holdings in Meta Platforms were worth $17,262,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in META. Beaird Harris Wealth Management LLC raised its position in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the period. Quest Partners LLC bought a new position in shares of Meta Platforms during the 4th quarter valued at $32,000. Clear Investment Research LLC grew its holdings in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms during the 4th quarter valued at $39,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $514.96, for a total value of $8,600,861.92. Following the transaction, the chief executive officer now owns 213,007 shares in the company, valued at approximately $109,690,084.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the transaction, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Insiders have sold 218,086 shares of company stock valued at $106,423,370 in the last 90 days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Shares of NASDAQ: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’s 50 day moving average is $480.46 and its 200 day moving average is $456.83. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.28 trillion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share 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 the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on META shares. The Goldman Sachs Group reduced their target price on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Rosenblatt Securities increased their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company dropped their price target on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Finally, Loop Capital dropped their price target on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Two research 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $511.27.

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.