Meta Platforms, Inc. $META Shares Purchased by Baltimore Washington Financial Advisors Inc.

Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,956 shares of the social networking company’s stock after acquiring an additional 1,589 shares during the period. Meta Platforms makes up 1.7% of Baltimore Washington Financial Advisors Inc.’s holdings, making the stock its 19th largest position. Baltimore Washington Financial Advisors Inc.’s holdings in Meta Platforms were worth $40,358,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in META. Vanguard Group Inc. raised its stake in shares of Meta Platforms by 0.8% during the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after purchasing an additional 1,532,568 shares in the last quarter. State Street Corp grew its position in Meta Platforms by 1.9% in the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock valued at $64,158,971,000 after buying an additional 1,650,435 shares in the last quarter. Geode Capital Management LLC increased its stake in Meta Platforms by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 51,575,209 shares of the social networking company’s stock valued at $37,902,948,000 after buying an additional 682,768 shares during the period. Norges Bank bought a new stake in shares of Meta Platforms during the 2nd quarter worth about $23,155,393,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Meta Platforms by 1.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,489,621 shares of the social networking company’s stock worth $10,694,644,000 after buying an additional 262,550 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 2,461 shares of the business’s stock in a transaction dated Sunday, February 15th. The stock was sold at an average price of $639.77, for a total transaction of $1,574,473.97. Following the sale, the chief operating officer owned 12,108 shares in the company, valued at approximately $7,746,335.16. The trade was a 16.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 56,571 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $644.70, for a total transaction of $36,471,323.70. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 161,446 shares of company stock valued at $103,451,688. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $654.86 on Thursday. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The stock has a fifty day moving average of $654.42 and a 200-day moving average of $679.16. The company has a market capitalization of $1.66 trillion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 1.01 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.60 and a current ratio of 2.60.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. The business had revenue of $59.89 billion for the quarter, compared to analysts’ expectations of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The company’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the previous year, the firm posted $8.02 EPS. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.94%.

Analyst Ratings Changes

META has been the subject of several recent analyst reports. Evercore increased their price objective on shares of Meta Platforms from $875.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Wells Fargo & Company boosted their target price on Meta Platforms from $849.00 to $856.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Rosenblatt Securities upped their target price on Meta Platforms from $1,117.00 to $1,144.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Mizuho increased their price target on Meta Platforms from $815.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Finally, Wolfe Research reiterated an “outperform” rating and set a $850.00 price target (up from $800.00) on shares of Meta Platforms in a research report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $844.44.

View Our Latest Report on META

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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