Reflection Asset Management Takes $4.21 Million Position in Meta Platforms, Inc. $META

Reflection Asset Management purchased a new stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,381 shares of the social networking company’s stock, valued at approximately $4,212,000. Meta Platforms comprises about 3.0% of Reflection Asset Management’s portfolio, making the stock its 6th largest holding.

Several other large investors also recently added to or reduced their stakes in META. Vanguard Group Inc. boosted its holdings in shares of Meta Platforms by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after purchasing an additional 7,269,279 shares during the period. State Street Corp raised its holdings in Meta Platforms by 5.1% during the 4th quarter. State Street Corp now owns 90,841,345 shares of the social networking company’s stock valued at $59,963,463,000 after buying an additional 4,395,763 shares during the period. Geode Capital Management LLC boosted its stake in Meta Platforms by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 52,806,712 shares of the social networking company’s stock worth $34,734,628,000 after buying an additional 878,396 shares during the period. Capital World Investors boosted its stake in Meta Platforms by 0.8% during the fourth quarter. Capital World Investors now owns 39,558,637 shares of the social networking company’s stock worth $26,112,735,000 after buying an additional 310,947 shares during the period. Finally, Morgan Stanley increased its position in Meta Platforms by 2.2% during the fourth quarter. Morgan Stanley now owns 37,553,102 shares of the social networking company’s stock valued at $24,788,429,000 after acquiring an additional 823,883 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 2,778 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the transaction, the chief operating officer owned 10,557 shares of the company’s stock, valued at approximately $6,645,103.65. This represents a 20.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of Meta Platforms stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total value of $1,268,023.68. Following the completion of the sale, the insider owned 1,118 shares of the company’s stock, valued at $681,890.56. The trade was a 65.03% 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. Over the last 90 days, insiders have sold 40,568 shares of company stock valued at $25,057,365. Company insiders own 13.53% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $577.22 on Friday. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The company has a 50-day moving average of $621.27 and a 200 day moving average of $634.15.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. During the same period in the prior year, the firm earned $6.43 EPS. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. On average, research analysts expect that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on META shares. Susquehanna raised shares of Meta Platforms from a “positive” rating to a “positive” rating in a research note on Tuesday, June 2nd. Guggenheim cut their price target on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $725.00 price objective (down from $825.00) on shares of Meta Platforms in a research report on Thursday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $810.00 price objective on shares of Meta Platforms in a research note on Monday, June 1st. Finally, TD Cowen cut their target price on Meta Platforms from $820.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $840.60.

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Meta Platforms Company 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.

Further Reading

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

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