Chancellor Financial Group WB LP Purchases Shares of 1,360 Meta Platforms, Inc. (NASDAQ:META)

Chancellor Financial Group WB LP bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,360 shares of the social networking company's stock, valued at approximately $796,000.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $19,949,512,000. Proficio Capital Partners LLC lifted its holdings in Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Meta Platforms during the 4th quarter worth $2,243,603,000. Northern Trust Corp grew its holdings in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $1,162,918,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $635.41, for a total value of $329,777.79. Following the sale, the insider now directly owns 30,221 shares of the company's stock, valued at approximately $19,202,725.61. This trade represents a 1.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $673.96, for a total transaction of $409,767.68. Following the transaction, the chief operating officer now directly owns 8,662 shares of the company's stock, valued at approximately $5,837,841.52. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,664 shares of company stock worth $35,484,670. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of META traded down $2.82 on Friday, reaching $642.23. The stock had a trading volume of 16,230,863 shares, compared to its average volume of 14,491,179. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $578.56 and a 200 day moving average of $610.83. The firm has a market capitalization of $1.61 trillion, a PE ratio of 26.85, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.71 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.33%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on META. Raymond James lowered their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group boosted their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus increased their price target on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Royal Bank of Canada reiterated an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Monness Crespi & Hardt upped their target price on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $701.05.

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.