A number of other institutional investors have also modified their holdings of the stock. S.A. Mason LLC increased its position in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after buying an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN boosted its position in shares of Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares in the last quarter. Northern Capital Management Inc. grew its stake in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after acquiring an additional 21 shares during the last quarter. Buckingham Capital Management Inc. increased its holdings in Meta Platforms by 5.1% during the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after acquiring an additional 21 shares in the last quarter. Finally, LongView Wealth Management raised its position in Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on META shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Canaccord Genuity Group lowered their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group boosted their price target on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler upped their price objective on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $525.00 price objective on shares of Meta Platforms in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.
Check Out Our Latest Research Report on Meta Platforms
Insider Activity
In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total value of $423,150.85. Following the transaction, the insider now owns 43,275 shares in the company, valued at $20,234,091.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total transaction of $423,150.85. Following the completion of the sale, the insider now directly owns 43,275 shares of the company’s stock, valued at approximately $20,234,091.75. The disclosure for this sale can be found here. Insiders sold 349,174 shares of company stock worth $175,146,777 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.
Meta Platforms Stock Performance
Meta Platforms stock opened at $527.42 on Friday. The firm has a market capitalization of $1.34 trillion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The stock’s 50 day moving average price is $500.48 and its 200 day moving average price is $487.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.23 earnings per share. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s payout ratio is currently 11.49%.
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.
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