AAFMAA Wealth Management & Trust LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,198 shares of the social networking company's stock, valued at approximately $1,267,000.
A number of other institutional investors have also recently bought and sold shares of the business. Millstone Evans Group LLC acquired a new position in Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the fourth quarter valued at about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms in the fourth quarter valued at about $47,000. Finally, Conquis Financial LLC bought a new stake in Meta Platforms during the fourth quarter worth about $59,000. Institutional investors own 79.91% of the company's stock.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Oppenheimer upped their price target on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Pivotal Research decreased their price objective on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Truist Financial boosted their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Susquehanna cut their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $702.48.
Read Our Latest Stock Report on Meta Platforms
Meta Platforms Stock Performance
Shares of META stock opened at $697.71 on Friday. The stock has a market capitalization of $1.75 trillion, a PE ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26. The business's 50 day simple moving average is $587.67 and its 200 day simple moving average is $614.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results 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 net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the company earned $4.71 EPS. The company's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's payout ratio is currently 8.19%.
Insider Transactions at Meta Platforms
In other news, COO Javier Olivan sold 406 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares of the company's stock, valued at $2,265,707.52. This represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $595.00, for a total value of $547,995.00. Following the completion of the sale, the insider now owns 33,024 shares of the company's stock, valued at approximately $19,649,280. This represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,171 shares of company stock valued at $35,163,457. Corporate insiders own 13.61% of the company's stock.
Meta Platforms Company Profile
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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.
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