Abner Herrman & Brock LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 79.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,358 shares of the social networking company's stock after purchasing an additional 17,414 shares during the quarter. Meta Platforms makes up approximately 2.9% of Abner Herrman & Brock LLC's holdings, making the stock its 9th largest holding. Abner Herrman & Brock LLC's holdings in Meta Platforms were worth $22,685,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of META. Vanguard Group Inc. boosted its position in Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC grew its holdings in Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD increased its position in Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after buying an additional 1,049,121 shares in the last quarter. Capital World Investors increased its holdings in shares of Meta Platforms by 2.9% during 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 acquiring an additional 1,141,355 shares in the last quarter. Finally, Norges Bank purchased a new stake in Meta Platforms during the 4th quarter valued at about $19,949,512,000. 79.91% of the stock is owned by institutional investors.
Meta Platforms Stock Performance
META traded up $23.41 during trading on Monday, hitting $670.90. 15,706,506 shares of the stock were exchanged, compared to its average volume of 14,486,996. The firm has a market capitalization of $1.69 trillion, a P/E ratio of 28.05, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The stock has a fifty day moving average price of $578.56 and a two-hundred day moving average price of $611.28. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share 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 net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.71 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on META shares. UBS Group boosted their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. KeyCorp boosted their price objective 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. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their target price on Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $701.05.
Get Our Latest Stock Report on Meta Platforms
Insider Buying and Selling
In other news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the transaction, the chief technology officer now owns 16,463 shares in the company, valued at $10,855,043.68. This trade represents a 23.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $644.00, for a total value of $593,124.00. Following the transaction, the insider now directly owns 33,945 shares of the company's stock, valued at $21,860,580. The trade was a 2.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,056 shares of company stock worth $35,074,903 in the last 90 days. Company insiders own 13.61% of the company's stock.
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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