Free Trial

Benjamin Edwards Inc. Grows Stock Holdings in Meta Platforms, Inc. $META

Meta Platforms logo with Computer and Technology background
Image from MarketBeat Media, LLC.

Key Points

  • Benjamin Edwards Inc. increased its Meta Platforms stake by 5.8% in the fourth quarter, buying 3,605 more shares and bringing its total holding to 65,514 shares worth about $43.2 million.
  • Institutional interest remains high, with 79.91% of Meta shares held by hedge funds and other institutional investors, even as some funds added to or initiated positions in the stock.
  • Analysts remain broadly positive: Meta has a consensus rating of “Moderate Buy” with an average price target of $840.31, though recent insider selling and ongoing legal/regulatory issues continue to be areas of concern.
  • MarketBeat previews the top five stocks to own by July 1st.

Benjamin Edwards Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,514 shares of the social networking company's stock after purchasing an additional 3,605 shares during the period. Benjamin Edwards Inc.'s holdings in Meta Platforms were worth $43,249,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of META. Brighton Jones LLC boosted its holdings in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the period. Headwater Capital Co Ltd boosted its holdings in shares of Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company's stock worth $86,454,000 after purchasing an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. purchased a new stake in shares of Meta Platforms during the second quarter worth about $213,000. Finally, Capital & Planning LLC purchased a new stake in shares of Meta Platforms during the second quarter worth about $322,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 56,571 shares of Meta Platforms stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $644.70, for a total transaction of $36,471,323.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 2,778 shares of Meta Platforms stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the transaction, the chief operating officer directly owned 10,557 shares of the company's stock, valued at approximately $6,645,103.65. This trade represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 167,676 shares of company stock valued at $107,299,848 in the last three months. Company insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on META. Barclays increased their target price on shares of Meta Platforms from $800.00 to $830.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Meta Platforms in a research report on Thursday, January 29th. Evercore lifted their target price on shares of Meta Platforms from $875.00 to $900.00 and gave the company an "outperform" rating in a research note on Thursday, January 29th. Morgan Stanley cut their target price on shares of Meta Platforms from $825.00 to $775.00 and set an "overweight" rating on the stock in a research note on Monday, March 30th. Finally, Erste Group Bank lowered shares of Meta Platforms from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $840.31.

View Our Latest Analysis on META

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Trading Up 0.7%

Shares of META opened at $603.00 on Wednesday. The firm's 50-day moving average price is $624.72 and its 200-day moving average price is $642.58. The firm has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.05 and a beta of 1.25. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating analysts' consensus estimates of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. During the same quarter in the previous year, the firm posted $6.43 EPS. The company's revenue for the quarter was up 33.1% compared to the same quarter last year. Sell-side analysts anticipate that Meta Platforms, Inc. will post 29.65 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Monday, March 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, March 16th. Meta Platforms's dividend payout ratio (DPR) is 7.63%.

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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:META - Free Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Meta Platforms Right Now?

Before you consider Meta Platforms, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.

While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks That Could Be Bigger Than Tesla, Nvidia, and Google Cover

Looking for the next FAANG stock before everyone has heard about it? Click the link to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines