Birchwood Financial Partners Inc. Makes New Investment in Meta Platforms, Inc. $META

Birchwood Financial Partners Inc. bought a new position in Meta Platforms, Inc. (NASDAQ:METAFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 963 shares of the social networking company’s stock, valued at approximately $636,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First National Bank Sioux Falls grew its stake in Meta Platforms by 0.7% in the 4th quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock valued at $1,321,000 after buying an additional 14 shares in the last quarter. Levin Capital Strategies L.P. lifted its position in shares of Meta Platforms by 1.4% during the fourth quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock worth $649,000 after acquiring an additional 14 shares in the last quarter. Vista Capital Partners Inc. lifted its position in shares of Meta Platforms by 1.3% during the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock worth $794,000 after acquiring an additional 14 shares in the last quarter. Arcataur Capital Management LLC boosted its holdings in shares of Meta Platforms by 0.9% in the fourth quarter. Arcataur Capital Management LLC now owns 1,736 shares of the social networking company’s stock worth $1,146,000 after acquiring an additional 15 shares during the period. Finally, Acorn Creek Capital LLC boosted its holdings in shares of Meta Platforms by 0.7% in the fourth quarter. Acorn Creek Capital LLC now owns 2,118 shares of the social networking company’s stock worth $1,398,000 after acquiring an additional 15 shares during the period. Institutional investors own 79.91% of the company’s stock.

Key Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Trading Up 1.7%

Shares of META stock opened at $577.22 on Friday. The business has a 50-day moving average price of $621.98 and a two-hundred day moving average price of $634.55. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.46 trillion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company’s revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the company earned $6.43 EPS. Equities analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.4%. Meta Platforms’s dividend payout ratio is currently 7.63%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 9,195 shares of Meta Platforms stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the transaction, the chief financial officer directly owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. This trade represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Andrew Bosworth sold 7,847 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the sale, the chief technology officer owned 414 shares of the company’s stock, valued at approximately $251,641.62. The trade was a 94.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 40,568 shares of company stock valued at $25,057,365 over the last ninety days. Insiders own 13.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on META. Susquehanna upgraded Meta Platforms from a “positive” rating to a “positive” rating in a research note on Tuesday, June 2nd. UBS Group downgraded Meta Platforms from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 2nd. Benchmark initiated coverage on Meta Platforms in a report on Tuesday, June 2nd. They set a “buy” rating for the company. BNP Paribas Exane began coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $725.00 price target (down from $825.00) on shares of Meta Platforms in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $840.60.

View Our Latest Stock Analysis on Meta Platforms

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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

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