Consolidated Investment Group LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,900 shares of the social networking company’s stock, valued at approximately $2,824,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Fjell Capital LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $1,836,000. Opulen Financial Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $325,000. Daner Wealth Management LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $334,000. Brighton Jones LLC lifted its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after buying an additional 570 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $112,406,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Stock Up 2.4%
META opened at $698.53 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The business has a 50-day moving average of $621.44 and a 200-day moving average of $623.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market capitalization of $1.76 trillion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.68 and a beta of 1.26.
Meta Platforms Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.
Analyst Upgrades and Downgrades
META has been the subject of several research analyst reports. Moffett Nathanson upped their price objective on Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Guggenheim upped their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a report on Thursday, May 1st. JMP Securities restated a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a report on Wednesday, April 30th. Loop Capital upped their target price on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Jefferies Financial Group reduced their target price on Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $710.00.
View Our Latest Research Report on META
Insider Transactions at Meta Platforms
In other news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer now owns 1,183 shares of the company’s stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,002 shares of company stock valued at $73,353,340 in the last three months. Corporate insiders own 13.61% of the company’s stock.
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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