Seven Mile Advisory Has $3.02 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Seven Mile Advisory raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,162 shares of the social networking company's stock after acquiring an additional 550 shares during the quarter. Meta Platforms makes up about 1.9% of Seven Mile Advisory's holdings, making the stock its 8th biggest holding. Seven Mile Advisory's holdings in Meta Platforms were worth $3,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC increased its stake in Meta Platforms by 17.9% in the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company's stock valued at $946,000 after purchasing an additional 251 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Meta Platforms by 6.5% in the 3rd quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company's stock valued at $1,928,185,000 after buying an additional 204,412 shares during the last quarter. United Bank raised its stake in Meta Platforms by 22.2% during the 3rd quarter. United Bank now owns 5,569 shares of the social networking company's stock worth $3,188,000 after acquiring an additional 1,011 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Meta Platforms in the third quarter valued at $625,000. Finally, Tradition Wealth Management LLC boosted its stake in Meta Platforms by 14.7% in the third quarter. Tradition Wealth Management LLC now owns 2,655 shares of the social networking company's stock valued at $1,520,000 after acquiring an additional 340 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

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Meta Platforms Stock Down 6.0 %

META stock traded down $35.30 during mid-day trading on Thursday, hitting $548.63. 20,256,497 shares of the company were exchanged, compared to its average volume of 16,279,599. The firm has a fifty day simple moving average of $653.10 and a 200 day simple moving average of $610.50. The company has a market capitalization of $1.39 trillion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the business earned $5.33 earnings per share. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.38%. Meta Platforms's dividend payout ratio (DPR) is 8.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on META shares. Scotiabank boosted their target price on Meta Platforms from $583.00 to $627.00 and gave the company a "sector perform" rating in a report on Thursday, January 30th. Wells Fargo & Company increased their price objective on Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Truist Financial lifted their target price on shares of Meta Platforms from $700.00 to $770.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Robert W. Baird increased their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Citigroup lifted their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $718.55.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $563.03, for a total value of $342,322.24. Following the completion of the transaction, the chief operating officer now directly owns 6,230 shares of the company's stock, valued at approximately $3,507,676.90. The trade was a 8.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $611.10, for a total transaction of $21,951,323.10. The disclosure for this sale can be found here. Insiders sold a total of 584,113 shares of company stock worth $385,838,234 over the last 90 days. Insiders own 13.71% of the company's stock.

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.