Foster Group Inc. Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Foster Group Inc. grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,575 shares of the social networking company's stock after buying an additional 661 shares during the period. Foster Group Inc.'s holdings in Meta Platforms were worth $4,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in META. Fjell Capital LLC raised its position in Meta Platforms by 4.2% during the first quarter. Fjell Capital LLC now owns 3,268 shares of the social networking company's stock valued at $1,884,000 after purchasing an additional 133 shares during the period. Vest Financial LLC increased its position in shares of Meta Platforms by 801.3% during the 1st quarter. Vest Financial LLC now owns 84,599 shares of the social networking company's stock valued at $48,759,000 after purchasing an additional 75,213 shares during the last quarter. Annex Advisory Services LLC raised its holdings in Meta Platforms by 40.0% during the 1st quarter. Annex Advisory Services LLC now owns 117,040 shares of the social networking company's stock valued at $67,457,000 after buying an additional 33,445 shares during the period. Breakwater Capital Group lifted its position in Meta Platforms by 6.6% in the first quarter. Breakwater Capital Group now owns 3,374 shares of the social networking company's stock worth $1,945,000 after buying an additional 208 shares during the last quarter. Finally, Retirement Planning Group LLC boosted its stake in Meta Platforms by 19.6% during the first quarter. Retirement Planning Group LLC now owns 1,767 shares of the social networking company's stock worth $1,018,000 after buying an additional 289 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer now directly owns 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares of the company's stock, valued at $2,265,707.52. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,171 shares of company stock valued at $35,163,457 over the last ninety days. 13.61% of the stock is currently owned by insiders.

Meta Platforms Trading Down 0.5%

Meta Platforms stock opened at $684.62 on Friday. 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 stock has a market cap of $1.72 trillion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock has a 50-day moving average of $585.44 and a two-hundred day moving average of $613.90. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $4.71 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. DA Davidson reduced their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Scotiabank reduced their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research report on Monday, April 21st. UBS Group raised their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group raised their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One 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 issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average price target of $702.48.

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.

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