Meadow Creek Wealth Advisors LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Meadow Creek Wealth Advisors LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 179.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,384 shares of the social networking company’s stock after purchasing an additional 3,459 shares during the period. Meta Platforms accounts for about 1.8% of Meadow Creek Wealth Advisors LLC’s holdings, making the stock its 10th biggest position. Meadow Creek Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,614,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in META. Norges Bank purchased a new stake in Meta Platforms during the fourth quarter worth about $11,285,855,000. International Assets Investment Management LLC increased its holdings in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after buying an additional 4,908,251 shares during the last quarter. Capital Research Global Investors increased its holdings in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management increased its holdings in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on META shares. Raymond James lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday. JPMorgan Chase & Co. reduced their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Monday. Robert W. Baird reduced their target price on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Truist Financial reduced their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $511.27.

Get Our Latest Stock Analysis on META

Meta Platforms Stock Up 0.1 %

Shares of NASDAQ META opened at $509.96 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. The firm’s fifty day moving average is $482.42 and its 200 day moving average is $458.78. The company has a market cap of $1.29 trillion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.32 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities research analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the sale, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $500.57, for a total transaction of $453,015.85. Following the completion of the sale, the insider now directly owns 37,845 shares in the company, valued at $18,944,071.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,905 shares of company stock valued at $123,528,726. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Company 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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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