Keybank National Association OH Purchases 2,469 Shares of Meta Platforms, Inc. (NASDAQ:META)

Keybank National Association OH grew its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,170 shares of the social networking company's stock after buying an additional 2,469 shares during the quarter. Keybank National Association OH's holdings in Meta Platforms were worth $64,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in META. Opulen Financial Group LLC purchased a new stake in Meta Platforms in the fourth quarter worth approximately $325,000. Brighton Jones LLC increased its holdings in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after buying an additional 570 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after purchasing an additional 875 shares during the period. SOA Wealth Advisors LLC. raised its stake in shares of Meta Platforms by 5.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock worth $1,989,000 after buying an additional 178 shares during the period. Finally, Bank Pictet & Cie Europe AG raised its position in shares of Meta Platforms by 3.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after purchasing an additional 7,587 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 517 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $740.97, for a total value of $383,081.49. Following the completion of the sale, the chief operating officer owned 7,853 shares of the company's stock, valued at approximately $5,818,837.41. This represents a 6.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The disclosure for this sale can be found here. Insiders sold 153,677 shares of company stock worth $105,221,340 in the last 90 days. 13.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on META. Rosenblatt Securities raised their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Raymond James Financial decreased their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. Citigroup raised their price objective on shares of Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Royal Bank Of Canada restated an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $719.29.

Meta Platforms Trading Down 0.1%

META traded down $0.66 on Monday, reaching $718.35. 9,438,384 shares of the company traded hands, compared to its average volume of 14,524,462. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The firm has a fifty day simple moving average of $658.89 and a two-hundred day simple moving average of $630.28. The company has a market cap of $1.81 trillion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the business posted $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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