Janney Montgomery Scott LLC Has $197.67 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Janney Montgomery Scott LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4.5% 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 407,081 shares of the social networking company’s stock after purchasing an additional 17,523 shares during the quarter. Meta Platforms comprises approximately 0.6% of Janney Montgomery Scott LLC’s investment portfolio, making the stock its 27th biggest position. Janney Montgomery Scott LLC’s holdings in Meta Platforms were worth $197,671,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on META shares. Raymond James boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft cut their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Guggenheim lowered their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Piper Sandler reiterated an “overweight” rating and set a $545.00 target price (down from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Finally, Oppenheimer reduced their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $511.27.

View Our Latest Report on META

Meta Platforms Trading Up 5.9 %

Shares of META stock opened at $539.91 on Monday. The stock has a 50-day moving average of $484.36 and a 200-day moving average of $461.69. 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 stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 31.01, a PEG ratio of 1.40 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $540.87.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results 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. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The stock was 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 in the company, valued at approximately $20,043,756. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the 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 directly owns 38,398 shares in the company, valued at approximately $20,043,756. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $517.75, for a total transaction of $253,697.50. Following the sale, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The disclosure for this sale can be found here. Insiders have sold a total of 251,905 shares of company stock worth $123,528,726 over the last quarter. Company 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.

Recommended 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.