Financial Counselors Inc. Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Financial Counselors Inc. lifted its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 11.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,729 shares of the social networking company’s stock after buying an additional 11,299 shares during the quarter. Meta Platforms makes up about 0.9% of Financial Counselors Inc.’s holdings, making the stock its 28th biggest holding. Financial Counselors Inc.’s holdings in Meta Platforms were worth $53,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new position in Meta Platforms in the 4th quarter worth about $11,285,855,000. International Assets Investment Management LLC lifted its stake in Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares during the period. Capital Research Global Investors lifted its stake in Meta Platforms by 17.2% during 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 acquiring an additional 4,440,229 shares during the period. Concentrum Wealth Management increased its position in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $512.00, for a total transaction of $210,944.00. Following the completion of the sale, the chief operating officer now owns 6,795 shares of the company’s stock, valued at $3,479,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $512.00, for a total transaction of $210,944.00. Following the completion of the sale, the chief operating officer now owns 6,795 shares of the company’s stock, valued at $3,479,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 8,727 shares of Meta Platforms stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $528.87, for a total value of $4,615,448.49. Following the sale, the chief executive officer now directly owns 178,099 shares of the company’s stock, valued at approximately $94,191,218.13. The disclosure for this sale can be found here. Insiders sold 260,459 shares of company stock valued at $128,049,749 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

META has been the subject of several research reports. Robert W. Baird reduced their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Wedbush reduced their target price on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and issued a $545.00 target price (down from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Finally, BNP Paribas began coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price for the company. Two equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $513.59.

View Our Latest Stock Report on Meta Platforms

Meta Platforms Price Performance

Shares of NASDAQ META opened at $530.00 on Wednesday. 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 company has a market cap of $1.34 trillion, a PE ratio of 30.44, a P/E/G ratio of 1.37 and a beta of 1.21. The business has a 50-day simple moving average of $488.29 and a two-hundred day simple moving average of $464.16. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $542.81.

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 for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during 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%. As a group, equities analysts expect that Meta Platforms, Inc. will post 20.15 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued 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 of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.

See Also

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.