Fortis Advisors LLC Has $510,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Fortis Advisors LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 884 shares of the social networking company’s stock after buying an additional 75 shares during the quarter. Fortis Advisors LLC’s holdings in Meta Platforms were worth $510,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of META. Suvretta Capital Management LLC increased its position in shares of Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock valued at $99,735,000 after buying an additional 1,850 shares in the last quarter. Skye Global Management LP increased its holdings in shares of Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Brueske Advisory Services LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $459,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock valued at $1,001,044,000 after purchasing an additional 1,229,350 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Meta Platforms by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after purchasing an additional 110,040 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 7,802 shares of Meta Platforms stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $701.96, for a total value of $5,476,691.92. Following the completion of the sale, the chief executive officer now directly owns 110,477 shares of the company’s stock, valued at approximately $77,550,434.92. The trade was a 6.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares of the company’s stock, valued at $10,855,043.68. This trade represents a 23.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,672 shares of company stock valued at $55,455,647. 13.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on META shares. KeyCorp lifted their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Wells Fargo & Company cut their price objective on shares of Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley increased their target price on Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Loop Capital boosted their price target on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Barclays reduced their price objective on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $706.88.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $702.12 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The firm has a market capitalization of $1.77 trillion, a P/E ratio of 29.35, a P/E/G ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company’s 50 day moving average price is $607.90 and its two-hundred day moving average price is $620.85.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned $4.71 EPS. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

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.