Ironwood Financial llc acquired a new stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 515 shares of the social networking company’s stock, valued at approximately $250,000.
Several other large investors have also modified their holdings of META. Ameriprise Financial Inc. boosted its holdings in shares of Meta Platforms by 7.7% in the third quarter. Ameriprise Financial Inc. now owns 8,314,722 shares of the social networking company’s stock valued at $2,496,450,000 after acquiring an additional 592,085 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Meta Platforms by 69.9% in the third quarter. Alps Advisors Inc. now owns 26,817 shares of the social networking company’s stock valued at $8,051,000 after acquiring an additional 11,033 shares during the period. Alerus Financial NA lifted its holdings in shares of Meta Platforms by 503.5% during the third quarter. Alerus Financial NA now owns 22,920 shares of the social networking company’s stock worth $6,881,000 after purchasing an additional 19,122 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Meta Platforms by 0.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,211,935 shares of the social networking company’s stock worth $664,045,000 after purchasing an additional 6,300 shares during the period. Finally, Evergreen Capital Management LLC lifted its holdings in shares of Meta Platforms by 0.4% during the third quarter. Evergreen Capital Management LLC now owns 28,577 shares of the social networking company’s stock worth $8,579,000 after purchasing an additional 125 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently weighed in on META. JMP Securities reaffirmed a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a report on Monday, April 22nd. Raymond James increased their price target on Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a report on Wednesday, June 5th. UBS Group decreased their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $545.00 price objective (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $510.05.
Read Our Latest Stock Analysis on Meta Platforms
Insiders Place Their Bets
In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the transaction, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the completion of the transaction, the chief executive officer now directly owns 230,461 shares in the company, valued at $117,737,915.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,557 shares of company stock valued at $97,894,296. Insiders own 13.71% of the company’s stock.
Meta Platforms Stock Down 3.0 %
Shares of NASDAQ:META opened at $504.22 on Monday. The stock’s 50-day moving average price is $480.00 and its two-hundred day moving average price is $455.62. 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 12-month low of $274.38 and a 12-month high of $531.49. The firm 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.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, research analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, June 14th. 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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