Keybank National Association OH lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,170 shares of the social networking company's stock after purchasing an additional 2,469 shares during the period. Keybank National Association OH's holdings in Meta Platforms were worth $64,074,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms during the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Meta Platforms in the 1st quarter valued at $28,000. Millstone Evans Group LLC bought a new stake in Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms in the 4th quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the fourth quarter worth $45,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Stock Up 0.5%
Shares of NASDAQ META traded up $3.34 during trading on Friday, hitting $716.91. The stock had a trading volume of 8,601,653 shares, compared to its average volume of 14,544,817. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market capitalization of $1.80 trillion, a PE ratio of 27.96, a PEG ratio of 1.76 and a beta of 1.28. The firm has a fifty day moving average of $658.89 and a two-hundred day moving average of $630.04.
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 (EPS) 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 during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the business posted $4.71 EPS. The business's revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.
Analysts Set New Price Targets
Several research analysts recently commented on META shares. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. KeyCorp increased their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. TD Securities reduced their target price on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wedbush increased their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC upgraded shares of Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $719.29.
Read Our Latest Stock Report on META
Insider Buying and Selling
In related news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares of the company's stock, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 154,285 shares of company stock valued at $105,518,153. 13.61% of the stock is owned by insiders.
About Meta Platforms
(
Free Report)
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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