Pinnacle Financial Partners Inc increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,833 shares of the social networking company's stock after acquiring an additional 1,045 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Meta Platforms were worth $23,236,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.8% in 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 during the period. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Meta Platforms by 2.5% in 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 purchasing an additional 1,049,121 shares during the period. Capital World Investors increased its holdings in shares of 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 purchasing an additional 1,141,355 shares during the period. Finally, Norges Bank acquired a new position in shares of Meta Platforms in the fourth quarter valued at about $19,949,512,000. Institutional investors own 79.91% of the company's stock.
Insider Buying and Selling at Meta Platforms
In other news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. This represents a 94.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer 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. Insiders have sold 153,273 shares of company stock valued at $105,091,830 over the last 90 days. 13.61% of the stock is owned by insiders.
Meta Platforms Trading Down 0.8%
NASDAQ:META traded down $5.54 on Thursday, hitting $727.24. The stock had a trading volume of 9,894,682 shares, compared to its average volume of 15,878,798. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.83 trillion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.77 and a beta of 1.28. The company has a fifty day moving average price of $669.26 and a two-hundred day moving average price of $632.53. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the prior year, the firm posted $4.71 earnings per share. The firm's quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's payout ratio is currently 8.19%.
Analyst Ratings Changes
Several brokerages recently weighed in on META. Piper Sandler reiterated an "overweight" rating and issued a $808.00 price target (up previously from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Barclays cut their price objective on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Benchmark cut their price objective on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC raised Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, UBS Group reaffirmed a "buy" rating and set a $812.00 price target (up from $683.00) on shares of Meta Platforms in a research report on Thursday, June 26th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and an average price target of $727.95.
Check Out Our Latest Report on Meta Platforms
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.
Further Reading
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
