Platform Technology Partners Acquires 135 Shares of Meta Platforms, Inc. (NASDAQ:META)

0
2

[ad_1]

Platform Technology Partners boosted its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.4% during the first quarter, Holdings Channel.com reports. The fund owned 9,617 shares of the social networking company’s stock after buying an additional 135 shares during the quarter. Meta Platforms accounts for 1.6% of Platform Technology Partners’ investment portfolio, making the stock its 12th largest holding. Platform Technology Partners’ holdings in Meta Platforms were worth $5,543,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in META. Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares during the last quarter. Capital World Investors increased its position in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock valued at $23,606,338,000 after purchasing an additional 1,141,355 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Meta Platforms during the 4th quarter valued at about $19,949,512,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $828.00 price objective (up from $807.00) on shares of Meta Platforms in a research report on Wednesday. DA Davidson reduced their price objective on Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Wedbush increased their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Pivotal Research dropped their target price on Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, KeyCorp increased their target price on Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $732.67.

Want More Great Investing Ideas?

Get Our Latest Report on Meta Platforms

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction on Monday, July 14th. The stock was sold at an average price of $717.50, for a total value of $370,947.50. Following the completion of the sale, the chief operating officer directly owned 6,819 shares of the company’s stock, valued at approximately $4,892,632.50. The trade was a 7.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,780 shares of company stock valued at $105,009,697. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Stock Down 1.1%

META stock opened at $702.91 on Thursday. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.77 trillion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The business has a 50 day moving average of $681.78 and a 200 day moving average of $636.39.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the company earned $4.71 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Monday, June 16th. Meta Platforms’s payout ratio is 8.19%.

Meta Platforms Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)



Receive News & Ratings for Meta Platforms Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Meta Platforms and related companies with MarketBeat.com’s FREE daily email newsletter.

[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here