Lincoln National Corp Raises Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Lincoln National Corp boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,790 shares of the social networking company’s stock after buying an additional 2,504 shares during the quarter. Lincoln National Corp’s holdings in Meta Platforms were worth $16,894,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of META. Quest Partners LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $32,000. Clear Investment Research LLC grew its holdings 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 purchasing an additional 74 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the period. Gilfoyle & Co LLC acquired a new stake in Meta Platforms during the 4th quarter worth approximately $39,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Meta Platforms during the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $529.32 on Tuesday. The firm has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 1.40 and a beta of 1.21. 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, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81. The firm’s fifty day moving average price is $486.29 and its 200 day moving average price is $462.92.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business 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%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 20.15 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Wall Street Analyst Weigh In

META has been the topic of a number of recent research reports. Roth Mkm upped their price objective on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Canaccord Genuity Group cut their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Sanford C. Bernstein cut their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, UBS Group decreased their price target on shares of Meta Platforms from $610.00 to $575.00 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 assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $511.88.

Check Out Our Latest Research Report on Meta Platforms

Insider Activity

In related news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Javier Olivan sold 490 shares of the business’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 owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The disclosure for this sale can be found here. Insiders sold 260,047 shares of company stock valued at $127,838,805 in the last three months. 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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