Baillie Gifford & Co. Acquires 748,076 Shares of Meta Platforms, Inc. (NASDAQ:META)

Baillie Gifford & Co. boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,101,501 shares of the social networking company’s stock after purchasing an additional 748,076 shares during the quarter. Meta Platforms comprises approximately 2.3% of Baillie Gifford & Co.’s investment portfolio, making the stock its 11th biggest position. Baillie Gifford & Co. owned about 0.24% of Meta Platforms worth $2,962,767,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quest Partners LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC boosted its holdings in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Cranbrook Wealth Management LLC boosted its holdings in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Gilfoyle & Co LLC bought a new position in shares of Meta Platforms in the 4th quarter valued at $39,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Meta Platforms during the 1st quarter worth $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Oppenheimer reduced their price target 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. Piper Sandler reissued an “overweight” rating and issued a $545.00 price objective (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. TD Cowen decreased their target price on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Rosenblatt Securities increased their price target on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $511.27.

Read Our Latest Analysis on META

Meta Platforms Stock Performance

Shares of META opened at $539.91 on Friday. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $540.87. The company has a market cap of $1.37 trillion, a PE ratio of 31.01, a P/E/G ratio of 1.40 and a beta of 1.21. The stock has a 50-day moving average of $484.36 and a 200-day moving average of $460.90. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders 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 yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,905 shares of company stock worth $123,528,726. Insiders own 13.71% of the company’s stock.

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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