Crossmark Global Holdings Inc. Has $84.58 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Crossmark Global Holdings Inc. raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 146,741 shares of the social networking company's stock after buying an additional 13,519 shares during the period. Meta Platforms comprises approximately 1.5% of Crossmark Global Holdings Inc.'s holdings, making the stock its 5th largest holding. Crossmark Global Holdings Inc.'s holdings in Meta Platforms were worth $84,575,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the 1st quarter worth $28,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter worth $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the 4th quarter worth $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the 4th quarter worth $45,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META traded down $10.53 during midday trading on Tuesday, reaching $710.39. The company's stock had a trading volume of 11,425,784 shares, compared to its average volume of 15,735,748. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The company has a market cap of $1.79 trillion, a P/E ratio of 27.71, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The business's 50 day moving average price is $677.20 and its two-hundred day moving average price is $635.41.

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 for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 earnings per share. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio is 8.19%.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,361 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 517 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $717.51, for a total transaction of $370,952.67. Following the transaction, the chief operating officer owned 7,336 shares in the company, valued at $5,263,653.36. This represents a 6.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,263 shares of company stock valued at $104,638,750. 13.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore ISI raised their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Morgan Stanley lifted their price target on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. KeyCorp lifted their price target on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Wells Fargo & Company lifted their price target on Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Pivotal Research decreased their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $729.38.

About Meta Platforms

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.