Greater Midwest Financial Group LLC Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Greater Midwest Financial Group LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 31.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,151 shares of the social networking company's stock after purchasing an additional 1,950 shares during the period. Meta Platforms accounts for approximately 3.3% of Greater Midwest Financial Group LLC's portfolio, making the stock its 10th biggest holding. Greater Midwest Financial Group LLC's holdings in Meta Platforms were worth $4,698,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Suvretta Capital Management LLC increased its stake in Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after acquiring an additional 1,850 shares during the period. Skye Global Management LP increased its stake in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after acquiring an additional 43,200 shares during the period. Kovitz Investment Group Partners LLC grew its stake in shares of Meta Platforms by 255.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after purchasing an additional 1,229,350 shares during the period. Quantinno Capital Management LP grew its stake in shares of Meta Platforms by 25.1% in the 4th quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock valued at $215,760,000 after purchasing an additional 73,907 shares during the period. Finally, Arcadia Wealth Management Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $600,000. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

META has been the topic of several analyst reports. Oppenheimer upped their price objective on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. TD Cowen upped their price objective on Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Morgan Stanley upped their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Stifel Nicolaus upped their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Barclays lowered their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $729.38.

Insider Activity

In other news, CFO Susan J. Li sold 6,874 shares of the 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 transaction, the chief financial officer owned 70,040 shares of the company's stock, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,263 shares of company stock valued at $104,638,750 in the last 90 days. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Performance

META stock opened at $710.39 on Wednesday. The business's fifty day moving average is $679.66 and its 200-day moving average is $635.93. 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 company has a market cap of $1.79 trillion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90.

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, beating analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.71 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were 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 was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

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.

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