Diversified Trust Co Buys 6,946 Shares of Meta Platforms, Inc. (NASDAQ:META)

Diversified Trust Co grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,410 shares of the social networking company's stock after buying an additional 6,946 shares during the period. Meta Platforms makes up 1.2% of Diversified Trust Co's portfolio, making the stock its 16th biggest position. Diversified Trust Co's holdings in Meta Platforms were worth $47,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fjell Capital LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $1,836,000. Opulen Financial Group LLC bought a new position in Meta Platforms during the fourth quarter worth about $325,000. Daner Wealth Management LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $334,000. Brighton Jones LLC increased its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after acquiring an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $112,406,000. Institutional investors own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on META shares. UBS Group reiterated a "buy" rating and issued a $812.00 price objective (up from $683.00) on shares of Meta Platforms in a research report on Thursday. Morgan Stanley lifted their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Bank of America upped their price target on shares of Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Moffett Nathanson raised their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Truist Financial upped their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One equities research 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $719.52.

Meta Platforms Price Performance

Shares of META opened at $733.63 on Monday. The business's fifty day moving average is $638.51 and its 200 day moving average is $626.45. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $742.39. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.84 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.80 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm posted $4.71 earnings per share. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total value of $9,796,340.32. Following the transaction, the chief executive officer now owns 57,533 shares of the company's stock, valued at approximately $40,862,237.92. The trade was a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 124,223 shares of company stock valued at $83,526,550. 13.61% of the stock is owned by insiders.

Meta Platforms 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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.