Biltmore Family Office LLC Buys 64 Shares of Meta Platforms, Inc. (NASDAQ:META)

Biltmore Family Office LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,893 shares of the social networking company’s stock after purchasing an additional 64 shares during the period. Biltmore Family Office LLC’s holdings in Meta Platforms were worth $1,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Quest Partners LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $32,000. Clear Investment Research LLC increased its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC increased its stake in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth $39,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 2.7 %

META traded up $12.29 on Friday, reaching $465.70. 14,222,388 shares of the company traded hands, compared to its average volume of 13,931,730. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The firm has a fifty day simple moving average of $493.20 and a two-hundred day simple moving average of $474.54. The company has a market cap of $1.18 trillion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 1.17 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.

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, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, equities research analysts expect that Meta Platforms, Inc. will post 20.23 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Activity

In other news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms 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 transaction, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of 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. In the last quarter, insiders sold 311,348 shares of company stock worth $154,678,120. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a research note on Monday, April 22nd. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday. Roth Mkm raised their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, TD Cowen raised their target price on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $525.66.

About Meta Platforms

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.