NBC Securities Inc. Purchases 7,406 Shares of Meta Platforms, Inc. (NASDAQ:META)

NBC Securities Inc. increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 105,800.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,413 shares of the social networking company's stock after purchasing an additional 7,406 shares during the quarter. NBC Securities Inc.'s holdings in Meta Platforms were worth $4,272,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the fourth quarter worth $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the fourth quarter worth $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms in the fourth quarter worth $47,000. Finally, Conquis Financial LLC acquired a new stake in Meta Platforms in the fourth quarter worth $59,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Pivotal Research dropped their target price on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lifted their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Loop Capital lifted their price objective 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. Finally, Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $702.48.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $635.41, for a total value of $329,777.79. Following the sale, the insider now owns 30,221 shares in the company, valued at approximately $19,202,725.61. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $609.00, for a total transaction of $370,272.00. Following the completion of the sale, the chief operating officer now owns 8,054 shares in the company, valued at approximately $4,904,886. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,652 shares of company stock valued at $34,815,208 over the last 90 days. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 0.2%

NASDAQ:META traded up $1.46 during mid-day trading on Thursday, reaching $689.41. The stock had a trading volume of 5,382,290 shares, compared to its average volume of 14,481,369. The business's 50 day moving average is $583.27 and its 200 day moving average is $613.00. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The stock has a market cap of $1.73 trillion, a P/E ratio of 28.82, a PEG ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company's revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.71 earnings per share. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. 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.