Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,404 shares of the social networking company's stock after acquiring an additional 5,863 shares during the period. Meta Platforms accounts for 1.4% of Fifth Third Wealth Advisors LLC's holdings, making the stock its 11th biggest position. Fifth Third Wealth Advisors LLC's holdings in Meta Platforms were worth $27,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of META. Valley Financial Group Inc. raised its holdings in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after buying an additional 14 shares during the last quarter. Seelaus Asset Management LLC raised its holdings in shares of Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning raised its holdings in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after buying an additional 15 shares during the last quarter. Finally, Maiden Cove Capital LLC raised its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $609.00, for a total transaction of $370,272.00. Following the sale, the chief operating officer now owns 8,054 shares of the company's stock, valued at approximately $4,904,886. The trade was a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $644.00, for a total value of $593,124.00. Following the completion of the transaction, the insider now owns 33,945 shares of the company's stock, valued at $21,860,580. The trade was a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,056 shares of company stock worth $35,074,903 in the last three months. 13.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on META shares. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Morgan Stanley raised their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. TD Securities decreased their price target on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald increased their price objective on shares of Meta Platforms from $624.00 to $676.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. One equities 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $701.05.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $23.41 during midday trading on Monday, hitting $670.90. The company's stock had a trading volume of 15,706,506 shares, compared to its average volume of 14,486,878. The business's 50 day simple moving average is $578.56 and its 200 day simple moving average is $611.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market cap of $1.69 trillion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last 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 year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

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.