NCP Inc. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 95.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,591 shares of the social networking company's stock after selling 122,730 shares during the period. Meta Platforms comprises approximately 4.3% of NCP Inc.'s investment portfolio, making the stock its 6th biggest position. NCP Inc.'s holdings in Meta Platforms were worth $3,223,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Geode Capital Management LLC lifted 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 valued at $28,719,970,000 after buying an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of 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 purchasing an additional 1,049,121 shares in the last quarter. Capital World Investors grew its stake in 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 worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. GAMMA Investing LLC increased 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 worth $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Finally, Northern Trust Corp lifted its stake 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. 79.91% of the stock is currently owned by institutional investors.
Meta Platforms Price Performance
META stock traded up $4.95 during midday trading on Monday, reaching $717.63. The company had a trading volume of 8,681,530 shares, compared to its average volume of 15,406,905. The firm has a 50-day moving average price of $692.48 and a 200-day moving average price of $642.00. The company has a market capitalization of $1.80 trillion, a P/E ratio of 27.99, a P/E/G ratio of 1.71 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $450.80 and a 1 year 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.
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 (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.71 earnings per share. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.
Insider Buying and Selling at Meta Platforms
In other news, Director Robert M. Kimmitt sold 465 shares of Meta Platforms stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the transaction, the director owned 9,342 shares in the company, valued at approximately $6,755,013.36. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $706.41, for a total value of $365,213.97. Following the sale, the chief operating officer owned 6,302 shares of the company's stock, valued at $4,451,795.82. This represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,865 shares of company stock valued at $105,467,671. Corporate insiders own 13.61% of the company's stock.
Analyst Ratings Changes
A number of research firms recently issued reports on META. Sanford C. Bernstein boosted their target price on shares of Meta Platforms from $700.00 to $775.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a report on Thursday, May 1st. Scotiabank raised their target price on Meta Platforms from $525.00 to $675.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. TD Securities dropped their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Bank of America increased their price target on Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $754.07.
Check Out Our Latest Research Report on Meta Platforms
Meta Platforms Company Profile
(
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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