Madison Asset Management LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 20,968 shares of the social networking company’s stock, valued at approximately $7,422,000.
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A number of other large investors have also recently bought and sold shares of META. Norges Bank purchased a new position in Meta Platforms in the 4th quarter valued at about $11,285,855,000. FMR LLC lifted its stake in shares of Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after buying an additional 5,001,647 shares during the period. International Assets Investment Management LLC boosted its position in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Concentrum Wealth Management grew its stake in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Meta Platforms by 55.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock valued at $2,591,602,000 after acquiring an additional 3,093,715 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Insider Buying and Selling
In other Meta Platforms news, CEO Mark Zuckerberg sold 77,412 shares of Meta Platforms stock in a transaction on Monday, March 4th. The stock was sold at an average price of $500.60, for a total transaction of $38,752,447.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 77,412 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $500.60, for a total transaction of $38,752,447.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Insiders sold 790,965 shares of company stock valued at $390,715,438 in the last three months. 13.71% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the company. Royal Bank of Canada decreased their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group lowered their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. KeyCorp dropped their price objective on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Robert W. Baird decreased their target price on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Finally, Canaccord Genuity Group dropped their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $509.80.
View Our Latest Stock Analysis on Meta Platforms
Meta Platforms Stock Performance
META stock traded down $0.22 during mid-day trading on Friday, reaching $466.83. The company had a trading volume of 16,919,805 shares, compared to its average volume of 11,500,032. Meta Platforms, Inc. has a one year low of $258.45 and a one year high of $531.49. The stock has a market capitalization of $1.18 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.21 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. The stock’s 50-day simple moving average is $481.07 and its two-hundred day simple moving average is $431.14.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Research analysts anticipate that Meta Platforms, Inc. will post 20.19 EPS for the current year.
Meta Platforms Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. Meta Platforms’s dividend payout ratio is presently 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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