Meta Platforms, Inc. (NASDAQ:META) Stake Lifted by Symmetry Partners LLC

Symmetry Partners LLC increased its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6.2% in the 1st quarter, HoldingsChannel reports. The fund owned 2,308 shares of the social networking company’s stock after acquiring an additional 134 shares during the period. Symmetry Partners LLC’s holdings in Meta Platforms were worth $1,330,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in META. Fjell Capital LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $1,836,000. Opulen Financial Group LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $325,000. Daner Wealth Management LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $334,000. Brighton Jones LLC lifted its position in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after acquiring an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $112,406,000. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on META shares. Citigroup upped their price target on shares of Meta Platforms from $690.00 to $803.00 and gave the company a “buy” rating in a research report on Tuesday. DA Davidson reduced their price target 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. Bank of America increased their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. Rosenblatt Securities increased their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $719.52.

Read Our Latest Stock Report on META

Insider Activity

In other Meta Platforms news, Director Robert M. Kimmitt sold 465 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $699.27, for a total value of $325,160.55. Following the transaction, the director now directly owns 9,807 shares in the company, valued at $6,857,740.89. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $563.03, for a total transaction of $342,322.24. Following the completion of the transaction, the chief operating officer now owns 6,230 shares in the company, valued at approximately $3,507,676.90. This trade represents a 8.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,831 shares of company stock worth $83,868,872. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $733.63 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm’s 50-day simple moving average is $638.51 and its 200-day simple moving average is $626.52. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm has a market cap of $1.84 trillion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the business earned $4.71 EPS. The firm’s revenue was up 16.1% on a year-over-year basis. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.19%.

About Meta Platforms

(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.

See Also

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

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