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

Myecfo LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 22.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Beaird Harris Wealth Management LLC increased 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 worth $31,000 after acquiring an additional 42 shares during the period. Quest Partners LLC bought a new position in Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC increased 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 worth $33,000 after acquiring an additional 74 shares during the period. Cranbrook Wealth Management LLC increased 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 worth $36,000 after acquiring an additional 45 shares during the period. Finally, Gilfoyle & Co LLC bought a new position in Meta Platforms during the fourth quarter worth about $39,000. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 74,580 shares in the company, valued at $35,190,573. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction 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 transaction, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders have sold 252,395 shares of company stock worth $123,781,816 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.1 %

Meta Platforms stock opened at $509.96 on Thursday. The company has a quick ratio of 2.68, a current 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 firm’s fifty day moving average is $481.05 and its 200 day moving average is $458.42. The company has a market capitalization of $1.29 trillion, a PE ratio of 29.29, a PEG ratio of 1.31 and a beta of 1.21.

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

Meta Platforms Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms’s payout ratio is presently 11.49%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group reduced their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company reduced their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. UBS Group reduced their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Jefferies Financial Group reduced their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.