Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Menard Financial Group LLC

Key Points

• Menard Financial Group LLC increased its stake in Meta Platforms, Inc. by 24.2% during the first quarter, now holding 12,116 shares valued at approximately $7.1 million.
• Wall Street analysts have generally optimistic views on Meta, with an average price target of $822.41 and a consensus rating of "Moderate Buy".
• Meta reported a significant earnings beat in its latest quarterly results, posting $7.14 EPS against an expected $5.75, with revenues increasing by 21.6% year-over-year.

Menard Financial Group LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,116 shares of the social networking company's stock after buying an additional 2,362 shares during the quarter. Meta Platforms makes up 4.8% of Menard Financial Group LLC's holdings, making the stock its 3rd biggest holding. Menard Financial Group LLC's holdings in Meta Platforms were worth $7,116,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares during the last quarter. Capital World Investors lifted its holdings in Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after buying an additional 1,141,355 shares during the period. GAMMA Investing LLC lifted its holdings in Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after buying an additional 23,417,803 shares during the period. Northern Trust Corp lifted its holdings in Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Meta Platforms by 2.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,007,308 shares of the social networking company's stock valued at $7,030,399,000 after buying an additional 280,357 shares during the period. Institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on META shares. Royal Bank Of Canada upped their price objective on shares of Meta Platforms from $740.00 to $840.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Benchmark reiterated a "buy" rating and set a $890.00 price objective (up previously from $800.00) on shares of Meta Platforms in a report on Thursday, July 31st. Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday, July 3rd. Morgan Stanley lifted their price target on shares of Meta Platforms from $750.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Susquehanna lowered their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $822.41.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $753.43, for a total transaction of $11,939,605.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,298 shares of company stock worth $116,742,790. Company insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $12.91 during midday trading on Tuesday, reaching $763.46. 11,612,061 shares of the company were exchanged, compared to its average volume of 13,355,778. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. The business's fifty day moving average is $704.66 and its two-hundred day moving average is $647.27. Meta Platforms, Inc. has a one year low of $478.65 and a one year high of $784.75. The stock has a market cap of $1.92 trillion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The company had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. Meta Platforms's revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.16 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business 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 0.3%. Meta Platforms's dividend payout ratio is presently 7.60%.

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.