Petredis Investment Advisors LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,097 shares of the social networking company's stock after purchasing an additional 566 shares during the quarter. Meta Platforms makes up 2.8% of Petredis Investment Advisors LLC's portfolio, making the stock its 12th biggest position. Petredis Investment Advisors LLC's holdings in Meta Platforms were worth $26,568,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after acquiring an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Meta Platforms by 2.5% during the fourth 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 acquiring an additional 1,049,121 shares during the last quarter. Capital World Investors boosted its stake in Meta Platforms by 2.9% in 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 position in Meta Platforms during the 4th quarter worth $19,949,512,000. 79.91% of the stock is currently owned by institutional investors.
Meta Platforms Price Performance
META stock traded down $2.70 on Thursday, reaching $691.44. The company had a trading volume of 3,491,841 shares, compared to its average volume of 14,479,528. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company has a market cap of $1.74 trillion, a P/E ratio of 28.91, a PEG ratio of 1.42 and a beta of 1.26. The company's fifty day moving average is $597.08 and its 200 day moving average is $617.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.
Meta Platforms (NASDAQ:META - Get Free Report) last posted 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 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the business posted $4.71 earnings per share. The company's revenue was up 16.1% on a year-over-year basis. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.
Insider Activity at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now owns 5,622 shares of the company's stock, valued at $2,744,547.96. This trade represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the transaction, the insider now owns 31,182 shares of the company's stock, valued at $19,552,673.10. This trade represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,682 shares of company stock worth $56,014,018. 13.61% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. DA Davidson cut their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. KeyCorp lifted their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Scotiabank cut their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. Finally, Truist Financial lifted their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a 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 issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $702.48.
View Our Latest Report on Meta Platforms
Meta Platforms 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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