Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN raised its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,057 shares of the social networking company’s stock after acquiring an additional 21 shares during the period. Horizon Bancorp Inc. IN’s holdings in Meta Platforms were worth $513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in META. Vanguard Group Inc. increased its stake in Meta Platforms by 1.7% during 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 during the period. Capital World Investors grew its holdings in shares of Meta Platforms by 2.5% in the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after purchasing an additional 927,491 shares in the last quarter. Capital International Investors increased its stake in Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after buying an additional 1,083,719 shares during the period. Norges Bank acquired a new stake in Meta Platforms during the 4th quarter worth approximately $11,285,855,000. Finally, Capital Research Global Investors boosted its position in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on META shares. Canaccord Genuity Group cut their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group cut their price target on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Raymond James lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday, July 1st. Oppenheimer cut their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, KeyCorp raised their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $511.27.

Get Our Latest Research Report on META

Meta Platforms Trading Up 5.9 %

Shares of META stock opened at $539.91 on Friday. The company has a market capitalization of $1.37 trillion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $484.36 and its two-hundred day moving average is $460.13. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $540.87.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Equities analysts forecast that Meta Platforms, Inc. will post 20.15 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total value of $8,502,988.20. Following the sale, the chief executive officer now owns 186,826 shares of the company’s stock, valued at approximately $95,113,116.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now owns 38,398 shares in the company, valued at $20,043,756. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total transaction of $8,502,988.20. Following the transaction, the chief executive officer now owns 186,826 shares in the company, valued at $95,113,116.60. The disclosure for this sale can be found here. Insiders sold 251,905 shares of company stock valued at $123,528,726 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

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.

Featured Stories

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:METAFree Report).

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

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.