Schear Investment Advisers LLC Acquires 1,098 Shares of Meta Platforms, Inc. (NASDAQ:META)

Schear Investment Advisers LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 25.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,342 shares of the social networking company’s stock after acquiring an additional 1,098 shares during the quarter. Meta Platforms comprises about 2.1% of Schear Investment Advisers LLC’s investment portfolio, making the stock its 12th biggest holding. Schear Investment Advisers LLC’s holdings in Meta Platforms were worth $2,594,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. S.A. Mason LLC increased its holdings in Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN grew its position in shares of Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares in the last quarter. LongView Wealth Management grew its position in shares of Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares in the last quarter. Hanson & Doremus Investment Management grew its position in shares of Meta Platforms by 5.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after acquiring an additional 22 shares in the last quarter. Finally, Madison Wealth Partners Inc grew its position in shares of Meta Platforms by 1.6% in the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after acquiring an additional 23 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the transaction, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,905 shares of company stock valued at $123,528,726. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Up 5.9 %

Shares of META opened at $539.91 on Monday. The business’s fifty day moving average price is $484.36 and its two-hundred day moving average price is $461.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a market capitalization 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 52 week low of $274.38 and a 52 week high of $540.87.

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

Meta Platforms Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.37%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on META. Deutsche Bank Aktiengesellschaft decreased their target price on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Jefferies Financial Group decreased their target price on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Loop Capital restated a “buy” rating and set a $550.00 price objective on shares of Meta Platforms in a research report on Wednesday, July 3rd. Royal Bank of Canada reduced their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Wedbush reduced their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $511.27.

Get Our Latest Stock Analysis on Meta Platforms

About Meta Platforms

(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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