Graypoint LLC Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

Graypoint LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 5.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,773 shares of the social networking company’s stock after buying an additional 1,033 shares during the period. Graypoint LLC’s holdings in Meta Platforms were worth $9,116,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Lwmg LLC grew its position in shares of Meta Platforms by 5.7% during the first quarter. Lwmg LLC now owns 1,156 shares of the social networking company’s stock worth $561,000 after buying an additional 62 shares in the last quarter. Consolidated Planning Corp lifted its stake in Meta Platforms by 4.1% in the first quarter. Consolidated Planning Corp now owns 11,185 shares of the social networking company’s stock worth $5,431,000 after acquiring an additional 441 shares during the last quarter. Pittenger & Anderson Inc. grew its holdings in Meta Platforms by 16.2% during the 1st quarter. Pittenger & Anderson Inc. now owns 34,936 shares of the social networking company’s stock worth $16,964,000 after acquiring an additional 4,866 shares in the last quarter. Quent Capital LLC increased its position in shares of Meta Platforms by 8.4% in the 1st quarter. Quent Capital LLC now owns 5,676 shares of the social networking company’s stock valued at $2,756,000 after purchasing an additional 439 shares during the last quarter. Finally, Thompson Davis & CO. Inc. raised its holdings in shares of Meta Platforms by 17.3% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,458 shares of the social networking company’s stock valued at $702,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total value of $291,675.15. Following the completion of the sale, the insider now owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $441.54, for a total transaction of $216,354.60. Following the sale, the chief operating officer now owns 6,599 shares in the company, valued at $2,913,722.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15. Following the completion of the transaction, the insider now owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The disclosure for this sale can be found here. Insiders have sold 260,459 shares of company stock valued at $128,049,749 over the last three months. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Up 0.1 %

NASDAQ:META opened at $530.00 on Wednesday. The company has a market capitalization of $1.34 trillion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The stock has a fifty day simple moving average of $488.29 and a 200-day simple moving average of $464.16. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $36.28 billion. On average, equities research analysts expect that Meta Platforms, Inc. will post 20.15 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on META. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. The Goldman Sachs Group dropped their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Oppenheimer decreased their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Wolfe Research dropped their price target on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Sanford C. Bernstein reduced their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $511.88.

Get Our Latest Research Report on META

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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