Accredited Investors Inc. Acquires 1,006 Shares of Meta Platforms, Inc. $META

Accredited Investors Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 17.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,922 shares of the social networking company’s stock after buying an additional 1,006 shares during the period. Accredited Investors Inc.’s holdings in Meta Platforms were worth $3,961,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. RHL Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC acquired a new position in Meta Platforms in the 4th quarter worth about $29,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the fourth quarter valued at about $42,000. Bayban raised its position in Meta Platforms by 100.0% in the first quarter. Bayban now owns 70 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 35 shares during the last quarter. Finally, Key Capital Management INC acquired a new stake in shares of Meta Platforms during the fourth quarter valued at about $48,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms News Roundup

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

Wall Street Analyst Weigh In

META has been the topic of several research reports. TD Cowen reduced their price target on Meta Platforms from $820.00 to $800.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Truist Financial cut their target price on shares of Meta Platforms from $900.00 to $840.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Wolfe Research reduced their target price on shares of Meta Platforms from $850.00 to $800.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. BNP Paribas Exane initiated coverage on shares of Meta Platforms in a research report on Tuesday, June 2nd. They issued an “outperform” rating for the company. Finally, Sanford C. Bernstein dropped their price target on shares of Meta Platforms from $900.00 to $850.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $835.90.

Get Our Latest Research Report on META

Meta Platforms Stock Up 3.1%

Shares of NASDAQ META opened at $681.31 on Thursday. The company has a market capitalization of $1.72 trillion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.17 and a beta of 1.25. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The company’s 50 day moving average price is $601.49 and its 200-day moving average price is $626.86.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $55.56 billion. During the same period in the prior year, the company posted $6.43 earnings per share. Meta Platforms’s revenue for the quarter was up 33.1% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 7.63%.

Insiders Place Their Bets

In other news, insider Curtis J. Mahoney sold 2,079 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 1,118 shares of the company’s stock, valued at $681,890.56. The trade was a 65.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 3,348 shares of the company’s stock in a transaction dated 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 owned 9,498 shares in the company, valued at approximately $5,708,013.06. The trade was a 26.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 39,503 shares of company stock valued at $24,241,859. Insiders own 13.53% of the company’s stock.

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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