Roman Butler Fullerton & Co. Purchases 2,983 Shares of Meta Platforms, Inc. $META

Roman Butler Fullerton & Co. grew its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 108.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,741 shares of the social networking company’s stock after acquiring an additional 2,983 shares during the quarter. Meta Platforms accounts for 1.0% of Roman Butler Fullerton & Co.’s holdings, making the stock its 22nd biggest position. Roman Butler Fullerton & Co.’s holdings in Meta Platforms were worth $3,516,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in META. Texas Bank & Trust Co raised its holdings in shares of Meta Platforms by 58.1% in the first quarter. Texas Bank & Trust Co now owns 1,110 shares of the social networking company’s stock valued at $635,000 after purchasing an additional 408 shares during the last quarter. First National Bank & Trust Co. of Newtown lifted its position in shares of Meta Platforms by 3.3% in the first quarter. First National Bank & Trust Co. of Newtown now owns 720 shares of the social networking company’s stock worth $412,000 after purchasing an additional 23 shares in the last quarter. Meadow Creek Wealth Advisors LLC boosted its holdings in Meta Platforms by 7.5% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,703,000 after purchasing an additional 207 shares during the last quarter. Mason & Associates Inc boosted its holdings in Meta Platforms by 8.0% during the first quarter. Mason & Associates Inc now owns 5,759 shares of the social networking company’s stock worth $3,089,000 after purchasing an additional 426 shares during the last quarter. Finally, Peterson Wealth Services grew its position in Meta Platforms by 5.8% in the first quarter. Peterson Wealth Services now owns 7,674 shares of the social networking company’s stock valued at $4,391,000 after purchasing an additional 422 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Curtis J. Mahoney sold 2,079 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total value of $1,268,023.68. Following the sale, the insider owned 1,118 shares in the company, valued at approximately $681,890.56. This represents a 65.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 3,348 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $600.97, for a total value of $2,012,047.56. Following the sale, the chief operating officer directly owned 9,498 shares of the company’s stock, valued at $5,708,013.06. This represents a 26.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,503 shares of company stock valued at $24,241,859 over the last three months. Insiders own 13.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on META. Weiss Ratings cut shares of Meta Platforms from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. KeyCorp restated an “overweight” rating and issued a $760.00 price objective on shares of Meta Platforms in a report on Thursday, April 30th. Wedbush raised Meta Platforms from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Piper Sandler assumed coverage on Meta Platforms in a report on Tuesday, June 2nd. They set an “overweight” rating on the stock. Finally, UBS Group reduced their price target on Meta Platforms from $865.00 to $766.00 and set a “buy” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $835.90.

Get Our Latest Research Report on META

Key Headlines Impacting Meta Platforms

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

Meta Platforms Stock Performance

Shares of META opened at $681.31 on Thursday. The firm has a 50-day moving average of $601.49 and a 200-day moving average of $626.86. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25. The company has a market cap of $1.72 trillion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.17 and a beta of 1.25. 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 (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $56.31 billion for the quarter, compared to analysts’ expectations of $55.56 billion. During the same period in the prior year, the firm earned $6.43 EPS. Meta Platforms’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, equities analysts forecast that Meta Platforms, Inc. will post 29.42 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were paid a $0.525 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 7.63%.

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.

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

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