GLOBALT Investments LLC GA bought a new stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,451 shares of the social networking company’s stock, valued at approximately $7,947,000.
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Several other institutional investors and hedge funds have also made changes to their positions in META. Fiera Capital Corp raised its holdings in Meta Platforms by 3.0% in the third quarter. Fiera Capital Corp now owns 6,928 shares of the social networking company’s stock valued at $2,080,000 after acquiring an additional 203 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in Meta Platforms by 8.2% in the third quarter. Johnson Investment Counsel Inc. now owns 25,816 shares of the social networking company’s stock valued at $7,750,000 after acquiring an additional 1,958 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in Meta Platforms by 8.7% in the third quarter. Kestra Advisory Services LLC now owns 92,787 shares of the social networking company’s stock valued at $27,856,000 after acquiring an additional 7,455 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Meta Platforms by 2.4% in the third quarter. Checchi Capital Advisers LLC now owns 16,138 shares of the social networking company’s stock valued at $4,845,000 after acquiring an additional 379 shares in the last quarter. Finally, Kesler Norman & Wride LLC acquired a new stake in Meta Platforms in the third quarter valued at $224,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Rosenblatt Securities upped their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Barclays dropped their target price on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group dropped their target price on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a report on Wednesday. Finally, Truist Financial dropped their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $510.41.
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Insiders Place Their Bets
In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the sale, the chief financial officer now owns 74,580 shares in the company, valued at $35,190,573. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $488.50, for a total transaction of $285,772.50. Following the completion of the transaction, the insider now directly owns 40,153 shares of the company’s stock, valued at $19,614,740.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on 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 transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The disclosure for this sale can be found here. Insiders have sold 437,528 shares of company stock worth $215,768,262 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.
Meta Platforms Trading Up 0.1 %
Shares of Meta Platforms stock opened at $504.16 on Friday. The company’s fifty day simple moving average is $480.39 and its 200-day simple moving average is $442.26. The company has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.31 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $271.42 and a 1 year high of $531.49.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.
Meta Platforms Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be paid a $0.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.
Meta Platforms Company 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.
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