Vanderbilt University raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 40.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,351 shares of the social networking company's stock after acquiring an additional 3,278 shares during the quarter. Meta Platforms makes up approximately 1.2% of Vanderbilt University's holdings, making the stock its 13th biggest position. Vanderbilt University's holdings in Meta Platforms were worth $6,542,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in META. Fjell Capital LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $1,836,000. Opulen Financial Group LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $325,000. Daner Wealth Management LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $334,000. Brighton Jones LLC boosted its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after buying an additional 570 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $112,406,000. 79.91% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $614.97, for a total value of $373,901.76. Following the transaction, the chief operating officer now owns 6,838 shares in the company, valued at approximately $4,205,164.86. This trade represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $701.99, for a total value of $364,332.81. Following the completion of the transaction, the insider now owns 28,664 shares in the company, valued at $20,121,841.36. The trade was a 1.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,031 shares of company stock worth $73,954,565. Company insiders own 13.61% of the company's stock.
Meta Platforms Stock Down 1.9%
META opened at $682.35 on Friday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market capitalization of $1.72 trillion, a P/E ratio of 26.61, a P/E/G ratio of 1.68 and a beta of 1.26. The stock has a fifty day moving average of $618.10 and a 200-day moving average of $623.14.
Meta Platforms (NASDAQ:META - Get Free Report) last issued 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. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter last year, the business earned $4.71 earnings per share. Meta Platforms's revenue was up 16.1% on a year-over-year basis. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Bank of America increased their price objective on Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Guggenheim increased their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wedbush increased their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Pivotal Research cut their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $710.00.
View Our Latest Research Report on META
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
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).
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