Mutual Advisors LLC Buys 2,441 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mutual Advisors LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,224 shares of the social networking company’s stock after buying an additional 2,441 shares during the quarter. Meta Platforms comprises 0.7% of Mutual Advisors LLC’s investment portfolio, making the stock its 20th largest position. Mutual Advisors LLC’s holdings in Meta Platforms were worth $20,503,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Meta Platforms during the fourth quarter valued at $11,285,855,000. International Assets Investment Management LLC increased its position in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Capital Research Global Investors increased its position in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after acquiring an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management increased its position in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 260,459 shares of company stock worth $128,049,749. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $530.00 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $542.81. The firm has a fifty day moving average price of $488.29 and a two-hundred day moving average price of $464.16. The company has a market cap of $1.34 trillion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Analysts expect that Meta Platforms, Inc. will post 20.15 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is presently 11.49%.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. BNP Paribas initiated coverage on Meta Platforms in a research report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Wedbush dropped their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Guggenheim dropped their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $513.59.

Read Our Latest Stock Analysis on Meta Platforms

Meta Platforms Profile

(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.

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

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