CV Advisors LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) in the first quarter, Holdings Channel reports. The fund purchased 499 shares of the social networking company’s stock, valued at approximately $242,000. Meta Platforms comprises 0.1% of CV Advisors LLC’s holdings, making the stock its 20th largest holding.
A number of other institutional investors also recently added to or reduced their stakes in META. S.A. Mason LLC raised its position in shares of Meta Platforms by 1.5% during the first 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 period. Horizon Bancorp Inc. IN raised its position in Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after buying an additional 21 shares during the period. LongView Wealth Management raised its position in Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after buying an additional 22 shares during the period. Hanson & Doremus Investment Management raised its position in Meta Platforms by 5.3% during the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after buying an additional 22 shares during the period. Finally, Madison Wealth Partners Inc raised its position in Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Price Performance
Shares of META stock opened at $512.70 on Friday. The stock has a 50 day moving average of $491.62 and a two-hundred day moving average of $464.99. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81. The company has a market capitalization of $1.30 trillion, a P/E ratio of 29.45, a P/E/G ratio of 1.39 and a beta of 1.21.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 20.19 EPS for the current year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio is currently 11.49%.
Insiders Place Their Bets
In related news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total transaction of $483,224.75. Following the completion of the transaction, the insider now owns 36,940 shares in the company, valued at approximately $19,724,113. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on 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 sold 294,278 shares of company stock worth $146,060,559. 13.71% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research analysts recently weighed in on META shares. Truist Financial dropped their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Monday, July 1st. Sanford C. Bernstein dropped their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Canaccord Genuity Group dropped their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $515.64.
Read Our Latest Stock Analysis on META
Meta Platforms Company Profile
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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