First Command Advisory Services Inc. Purchases 60 Shares of Meta Platforms, Inc. (NASDAQ:META)

First Command Advisory Services Inc. boosted its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.3% during the first quarter, Holdings Channel reports. The fund owned 2,719 shares of the social networking company’s stock after acquiring an additional 60 shares during the period. First Command Advisory Services Inc.’s holdings in Meta Platforms were worth $1,315,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in META. Allen Mooney & Barnes Investment Advisors LLC bought a new position in shares of Meta Platforms during the third quarter valued at about $265,000. Carmignac Gestion grew its stake in shares of Meta Platforms by 1.2% during the third quarter. Carmignac Gestion now owns 1,005,530 shares of the social networking company’s stock valued at $301,874,000 after buying an additional 12,235 shares during the last quarter. Alamar Capital Management LLC bought a new position in shares of Meta Platforms during the third quarter valued at about $201,000. Neo Ivy Capital Management grew its stake in shares of Meta Platforms by 600.8% during the third quarter. Neo Ivy Capital Management now owns 8,788 shares of the social networking company’s stock valued at $2,638,000 after buying an additional 7,534 shares during the last quarter. Finally, Modera Wealth Management LLC grew its stake in shares of Meta Platforms by 8.5% during the third quarter. Modera Wealth Management LLC now owns 7,775 shares of the social networking company’s stock valued at $2,334,000 after buying an additional 607 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.1 %

NASDAQ:META opened at $530.00 on Wednesday. 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 cap 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. The company has a 50 day simple moving average of $488.29 and a two-hundred day simple moving average of $464.16.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results 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 net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Research analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given 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 payout ratio is 11.49%.

Insider Activity

In other news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The shares were 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 in the company, valued at approximately $35,190,573. The transaction was disclosed in a filing with the SEC, which can be accessed 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 transaction of $194,752.40. Following the transaction, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Insiders sold a total of 260,459 shares of company stock valued at $128,049,749 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on META shares. Piper Sandler reaffirmed an “overweight” rating and set a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Roth Mkm raised their target price on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Rosenblatt Securities raised their target price on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Guggenheim cut their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, JMP Securities reissued a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a research note on Monday, April 22nd. 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $513.59.

View Our Latest Analysis on Meta Platforms

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.

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

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