First American Bank raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,921 shares of the social networking company's stock after purchasing an additional 570 shares during the quarter. Meta Platforms accounts for about 1.8% of First American Bank's holdings, making the stock its 12th biggest holding. First American Bank's holdings in Meta Platforms were worth $24,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Valley Financial Group Inc. boosted its stake 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 lifted its holdings in 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 valued at $1,743,000 after acquiring an additional 14 shares during the period. Meredith Wealth Planning grew its stake in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after purchasing an additional 15 shares during the period. Maiden Cove Capital LLC increased its holdings in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares in the last quarter. Finally, Riverwater Partners LLC increased its holdings in shares of Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on META. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Moffett Nathanson raised their target price on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. UBS Group boosted their price objective on Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Cantor Fitzgerald increased their target price on Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. Finally, Roth Capital lifted their price target on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One investment 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 issued a strong buy rating to the company's stock. According to MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $712.69.
Get Our Latest Analysis on Meta Platforms
Insider Transactions at Meta Platforms
In related news, COO Javier Olivan sold 608 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $563.03, for a total transaction of $342,322.24. Following the transaction, the chief operating officer now owns 6,230 shares of the company's stock, valued at approximately $3,507,676.90. This represents a 8.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 1,462 shares of Meta Platforms stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the completion of the transaction, the chief executive officer now directly owns 139,538 shares of the company's stock, valued at approximately $97,834,277.94. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,312 shares of company stock worth $83,503,034. 13.61% of the stock is currently owned by insiders.
Meta Platforms Trading Down 0.5%
META traded down $3.52 during trading hours on Wednesday, reaching $708.68. The company's stock had a trading volume of 9,285,562 shares, compared to its average volume of 14,488,533. The business's 50-day moving average is $629.38 and its 200-day moving average is $624.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market cap of $1.78 trillion, a PE ratio of 27.64, a P/E/G ratio of 1.75 and a beta of 1.26. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The business 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 38.69% and a net margin of 39.11%. The company's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.71 EPS. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.
About Meta Platforms
(
Free Report)
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.
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