Crumly & Associates Inc. increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 427 shares of the social networking company’s stock after acquiring an additional 20 shares during the quarter. Crumly & Associates Inc.’s holdings in Meta Platforms were worth $246,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kennedy Investment Group increased its position in Meta Platforms by 10.8% during the first quarter. Kennedy Investment Group now owns 3,847 shares of the social networking company’s stock worth $2,217,000 after acquiring an additional 376 shares during the period. Veridan Wealth LLC increased its position in Meta Platforms by 2.7% during the first quarter. Veridan Wealth LLC now owns 772 shares of the social networking company’s stock worth $445,000 after acquiring an additional 20 shares during the period. Avantra Family Wealth Inc. increased its position in Meta Platforms by 8.2% during the first quarter. Avantra Family Wealth Inc. now owns 2,111 shares of the social networking company’s stock worth $1,216,000 after acquiring an additional 160 shares during the period. Aspire Capital Advisors LLC boosted its stake in Meta Platforms by 6.6% during the first quarter. Aspire Capital Advisors LLC now owns 646 shares of the social networking company’s stock worth $372,000 after buying an additional 40 shares in the last quarter. Finally, EWA LLC boosted its stake in Meta Platforms by 50.2% during the first quarter. EWA LLC now owns 7,534 shares of the social networking company’s stock worth $4,342,000 after buying an additional 2,518 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Performance
Shares of NASDAQ:META opened at $712.20 on Wednesday. The stock has a market capitalization of $1.79 trillion, a P/E ratio of 27.78, a P/E/G ratio of 1.72 and a beta of 1.26. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $625.25 and a two-hundred day moving average price of $624.38.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio is currently 8.19%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on META. Benchmark decreased their price target on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. UBS Group lifted their price target on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Raymond James Financial decreased their price target on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 1st. JMP Securities reiterated a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. Finally, Rosenblatt Securities lifted their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $712.69.
Read Our Latest Report on Meta Platforms
Insiders Place Their Bets
In other news, COO Javier Olivan sold 406 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the sale, the chief operating officer now directly owns 4,608 shares of the company’s stock, valued at $2,265,707.52. This represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 1,462 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the completion of the sale, the chief executive officer now directly owns 139,538 shares of the company’s stock, valued at approximately $97,834,277.94. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 110,002 shares of company stock valued at $73,353,340. 13.61% of the stock is currently owned by insiders.
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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