Simmons Bank Has $17.08 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

0
3

[ad_1]

Simmons Bank decreased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.4% during the first quarter, Holdings Channel.com reports. The firm owned 29,628 shares of the social networking company’s stock after selling 424 shares during the period. Meta Platforms comprises about 1.3% of Simmons Bank’s portfolio, making the stock its 14th biggest holding. Simmons Bank’s holdings in Meta Platforms were worth $17,076,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in META. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms in the 1st quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Meta Platforms in the 1st quarter valued at approximately $28,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on META. Evercore ISI boosted their price target on Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. KeyCorp increased their price target on Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Susquehanna lowered their price target on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Monness Crespi & Hardt increased their price target on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Loop Capital increased their price target on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday, May 16th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $727.95.

Want More Great Investing Ideas?

View Our Latest Stock Report on Meta Platforms

Meta Platforms Trading Up 1.7%

NASDAQ META opened at $732.78 on Thursday. The stock has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 28.58, a PEG ratio of 1.77 and a beta of 1.28. The stock’s 50 day moving average price is $669.26 and its two-hundred day moving average price is $632.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter in the prior year, the business posted $4.71 EPS. The business’s revenue was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $737.00, for a total transaction of $382,503.00. Following the transaction, the insider owned 27,626 shares in the company, valued at $20,360,362. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 517 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $717.51, for a total value of $370,952.67. Following the transaction, the chief operating officer owned 7,336 shares in the company, valued at $5,263,653.36. The trade was a 6.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,273 shares of company stock worth $105,091,830. Company insiders own 13.61% of the company’s stock.

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.

Recommended Stories

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