Vision Capital Management Inc. Buys Shares of 1,550 Meta Platforms, Inc. (NASDAQ:META)

Vision Capital Management Inc. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 1,550 shares of the social networking company's stock, valued at approximately $893,000.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter valued at $19,949,512,000. GAMMA Investing LLC grew its holdings in shares of Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after buying an additional 23,417,803 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at $2,243,603,000. Northern Trust Corp grew its holdings in shares of Meta Platforms by 13.5% in the 4th 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. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Meta Platforms by 712.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock valued at $1,462,589,000 after buying an additional 2,225,186 shares during the period. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares in the company, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,263 shares of company stock valued at $104,638,750 in the last three months. 13.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $740.00 price target on shares of Meta Platforms in a report on Thursday, May 1st. Oppenheimer boosted their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a report on Monday, June 16th. Wedbush upped their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Barclays reduced their target price on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Finally, Rosenblatt Securities upped their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $729.38.

Meta Platforms Stock Up 0.5%

Meta Platforms stock opened at $720.92 on Tuesday. The stock has a market cap of $1.81 trillion, a P/E ratio of 28.12, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The company's 50-day moving average price is $677.20 and its two-hundred day moving average price is $635.41.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.71 EPS. As a group, 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 was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.

Meta Platforms Company Profile

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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