Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. raised its position in Meta Platforms, Inc. (NASDAQ:META) by 1.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,527 shares of the social networking company’s stock after purchasing an additional 80 shares during the quarter. Meta Platforms comprises approximately 1.2% of Pinnacle Bancorp Inc.’s investment portfolio, making the stock its 16th biggest holding. Pinnacle Bancorp Inc.’s holdings in Meta Platforms were worth $3,762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in META. Valley Financial Group Inc. grew its holdings in Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after purchasing an additional 14 shares during the period. Lantern Wealth Advisors LLC grew its stake in Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock valued at $1,743,000 after buying an additional 14 shares during the last quarter. Maiden Cove Capital LLC grew its stake in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after buying an additional 15 shares during the last quarter. Riverwater Partners LLC grew its stake in Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after buying an additional 15 shares during the last quarter. Finally, ABLE Financial Group LLC lifted its position in Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company’s stock worth $1,251,000 after acquiring an additional 15 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ META opened at $733.63 on Friday. The firm’s fifty day moving average price is $638.51 and its two-hundred day moving average price is $626.52. The stock has a market cap of $1.84 trillion, a PE ratio of 28.61, a PEG ratio of 1.79 and a beta of 1.26. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 earnings per share. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s payout ratio is presently 8.19%.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer now owns 1,183 shares of the company’s stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $704.89, for a total transaction of $365,837.91. Following the completion of the sale, the insider now directly owns 28,145 shares in the company, valued at approximately $19,839,129.05. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,831 shares of company stock valued at $83,868,872. 13.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on META shares. Jefferies Financial Group cut their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, April 7th. DA Davidson cut their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Scotiabank cut their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research report on Monday, April 21st. Citigroup raised their price objective on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Susquehanna cut their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $719.52.

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.