Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,118 shares of the social networking company's stock after acquiring an additional 363 shares during the period. Meta Platforms accounts for 0.4% of McGlone Suttner Wealth Management Inc.'s holdings, making the stock its 26th biggest position. McGlone Suttner Wealth Management Inc.'s holdings in Meta Platforms were worth $2,374,000 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 the company. Vanguard Group Inc. increased its stake in Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC increased its stake in Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares in the last quarter. Capital World Investors increased its stake in Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after purchasing an additional 1,141,355 shares in the last quarter. Finally, Norges Bank acquired a new position in Meta Platforms during the 4th quarter valued at approximately $19,949,512,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total transaction of $374,494.83. Following the sale, the insider owned 27,107 shares of the company's stock, valued at approximately $19,559,597.99. The trade was a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,792 shares of company stock worth $105,466,325. Insiders own 13.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on META shares. Loop Capital upped their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research note on Friday, May 16th. JMP Securities reiterated a "market outperform" rating and issued a $750.00 price objective on shares of Meta Platforms in a research note on Wednesday, April 30th. Barclays cut their price objective on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $735.00 to $795.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Benchmark cut their price objective on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $729.38.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $9.73 during midday trading on Friday, hitting $717.51. The company's stock had a trading volume of 10,855,962 shares, compared to its average volume of 14,460,014. The business's 50 day simple moving average is $674.77 and its 200 day simple moving average is $634.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market cap of $1.80 trillion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-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, 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 firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the firm posted $4.71 earnings per share. The company's revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio 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.