Meta Platforms, Inc. (NASDAQ:META) Holdings Boosted by Amalgamated Bank

Amalgamated Bank increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 481,654 shares of the social networking company's stock after buying an additional 10,086 shares during the quarter. Meta Platforms comprises 2.4% of Amalgamated Bank's holdings, making the stock its 5th largest position. Amalgamated Bank's holdings in Meta Platforms were worth $277,606,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in META. Suvretta Capital Management LLC raised its holdings in shares of Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after buying an additional 1,850 shares during the period. Skye Global Management LP raised its holdings in shares of Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after buying an additional 43,200 shares during the period. Brueske Advisory Services LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $459,000. Kovitz Investment Group Partners LLC raised its holdings 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 buying an additional 1,229,350 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock valued at $3,908,382,000 after buying an additional 110,040 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on META. The Goldman Sachs Group boosted their price objective on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. UBS Group reiterated a "buy" rating and issued a $812.00 price objective (up previously from $683.00) on shares of Meta Platforms in a report on Thursday, June 26th. Oppenheimer boosted their price objective on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a report on Monday, June 16th. Finally, Morgan Stanley boosted their target price on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $719.29.

Meta Platforms Stock Up 0.5%

NASDAQ:META opened at $716.91 on Friday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90. 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 firm has a market capitalization of $1.80 trillion, a P/E ratio of 27.96, a P/E/G ratio of 1.75 and a beta of 1.28. The stock's fifty day simple moving average is $655.49 and its 200-day simple moving average is $629.14.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its 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 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 revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.71 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Insider Activity

In other news, COO Javier Olivan sold 517 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $740.97, for a total value of $383,081.49. Following the sale, the chief operating officer directly owned 7,853 shares in the company, valued at $5,818,837.41. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The disclosure for this sale can be found here. Insiders have sold a total of 154,285 shares of company stock worth $105,518,153 over the last three months. Corporate insiders own 13.61% of the company's stock.

About Meta Platforms

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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