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Shilanski & Associates Inc. grew its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,999 shares of the social networking company’s stock after purchasing an additional 185 shares during the period. Shilanski & Associates Inc.’s holdings in Meta Platforms were worth $2,305,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of META. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock valued at $344,000 after acquiring an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC lifted its position in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock valued at $1,743,000 after acquiring an additional 14 shares in the last quarter. Maiden Cove Capital LLC lifted its position in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after buying an additional 15 shares in the last quarter. Riverwater Partners LLC lifted its position in shares of Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock worth $335,000 after buying an additional 15 shares in the last quarter. Finally, ABLE Financial Group LLC boosted its stake in Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company’s stock valued at $1,251,000 after buying an additional 15 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 517 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $740.97, for a total transaction of $383,081.49. Following the sale, the chief operating officer owned 7,853 shares in the company, valued at approximately $5,818,837.41. The trade was a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total value of $382,503.00. Following the sale, the insider owned 27,626 shares in the company, valued at approximately $20,360,362. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,285 shares of company stock worth $105,518,153. 13.61% of the stock is currently owned by insiders.
Meta Platforms Stock Performance
Shares of META opened at $716.91 on Friday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The stock has a fifty day moving average price of $655.49 and a 200-day moving average price of $629.14. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.80 trillion, a PE ratio of 27.96, a P/E/G ratio of 1.75 and a beta of 1.28.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the business posted $4.71 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms’s payout ratio is presently 8.19%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on META shares. Truist Financial increased their target price on Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Evercore ISI increased their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Guggenheim lifted their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $719.29.
Read Our Latest Research Report on META
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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