Park National Corp OH increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 558.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,482 shares of the social networking company's stock after acquiring an additional 39,425 shares during the quarter. Park National Corp OH's holdings in Meta Platforms were worth $26,790,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Suvretta Capital Management LLC grew its holdings in shares of Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after buying an additional 1,850 shares in the last quarter. Skye Global Management LP grew its holdings in shares of Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after buying an additional 43,200 shares in the last quarter. Brueske Advisory Services LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at $459,000. Apollon Financial LLC grew its holdings in shares of Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock valued at $866,000 after buying an additional 148 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of Meta Platforms by 255.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after buying an additional 1,229,350 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Price Performance
NASDAQ META traded down $2.82 during trading hours on Friday, reaching $642.23. 16,230,863 shares of the company's stock were exchanged, compared to its average volume of 14,482,228. The stock has a market cap of $1.61 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a fifty day moving average of $578.56 and a 200-day moving average of $611.04. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.71 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.33%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is 8.19%.
Analysts Set New Price Targets
A number of research firms recently issued reports on META. Barclays reduced their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Susquehanna reduced their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus lifted their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Evercore ISI boosted their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One research 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.
View Our Latest Analysis on Meta Platforms
Insiders Place Their Bets
In other Meta Platforms news, COO Javier Olivan sold 608 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $673.96, for a total transaction of $409,767.68. Following the transaction, the chief operating officer now owns 8,662 shares of the company's stock, valued at approximately $5,837,841.52. This represents a 6.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $644.00, for a total value of $593,124.00. Following the completion of the transaction, the insider now directly owns 33,945 shares in the company, valued at approximately $21,860,580. This trade represents a 2.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,664 shares of company stock valued at $35,484,670. 13.61% of the stock is currently owned by corporate insiders.
Meta Platforms Profile
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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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