Meta Platforms, Inc. (NASDAQ:META) Position Increased by Whittier Trust Co.

Whittier Trust Co. raised its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 178,130 shares of the social networking company’s stock after acquiring an additional 3,396 shares during the period. Meta Platforms accounts for approximately 1.3% of Whittier Trust Co.’s holdings, making the stock its 12th biggest position. Whittier Trust Co.’s holdings in Meta Platforms were worth $86,496,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Integrity Financial Corp WA raised its holdings in shares of Meta Platforms by 17.4% during the first quarter. Integrity Financial Corp WA now owns 1,418 shares of the social networking company’s stock valued at $689,000 after acquiring an additional 210 shares during the period. Mutual Advisors LLC grew its position in Meta Platforms by 6.1% during the 1st quarter. Mutual Advisors LLC now owns 42,224 shares of the social networking company’s stock worth $20,503,000 after purchasing an additional 2,441 shares in the last quarter. Smart Money Group LLC acquired a new stake in Meta Platforms during the 1st quarter valued at $385,000. First Command Advisory Services Inc. boosted its position in shares of Meta Platforms by 2.3% in the first quarter. First Command Advisory Services Inc. now owns 2,719 shares of the social networking company’s stock worth $1,315,000 after buying an additional 60 shares during the period. Finally, Financial Counselors Inc. boosted its position in shares of Meta Platforms by 11.4% in the first quarter. Financial Counselors Inc. now owns 110,729 shares of the social networking company’s stock worth $53,768,000 after buying an additional 11,299 shares during the period. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on META shares. TD Cowen upped their price target on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group dropped their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. BNP Paribas initiated coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target for the company. Canaccord Genuity Group dropped their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $513.59.

View Our Latest Research Report on META

Meta Platforms Trading Up 0.1 %

Shares of Meta Platforms stock opened at $530.00 on Wednesday. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The company’s fifty day simple moving average is $488.29 and its 200-day simple moving average is $464.16. The company has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.44, a PEG ratio of 1.37 and a beta of 1.21. 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 (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) 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 company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 20.15 EPS for the current year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 8,727 shares of Meta Platforms stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $528.87, for a total transaction of $4,615,448.49. Following the sale, the chief executive officer now owns 178,099 shares of the company’s stock, valued at approximately $94,191,218.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 8,727 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $528.87, for a total transaction of $4,615,448.49. Following the completion of the transaction, the chief executive officer now directly owns 178,099 shares of the company’s stock, valued at approximately $94,191,218.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the sale, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. 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 quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company 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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