Abner Herrman & Brock LLC Has $7.76 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Abner Herrman & Brock LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 39.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,990 shares of the social networking company’s stock after purchasing an additional 4,499 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Meta Platforms were worth $7,764,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Stone House Investment Management LLC lifted its position in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC grew its stake in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC raised its position in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.4 %

Shares of Meta Platforms stock opened at $501.70 on Friday. The firm has a market cap of $1.27 trillion, a PE ratio of 28.82, a P/E/G ratio of 1.30 and a beta of 1.21. The business’s 50 day simple moving average is $479.38 and its 200 day simple moving average is $445.90. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $36.28 billion. On average, analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio is 11.49%.

Analyst Ratings Changes

META has been the topic of a number of recent research reports. TD Cowen decreased their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Roth Mkm raised their price target on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Wells Fargo & Company lowered their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Stifel Nicolaus upped their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group lowered their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $510.05.

Insider Activity

In related news, CEO Mark Zuckerberg sold 77,412 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $504.82, for a total transaction of $39,079,125.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $504.82, for a total transaction of $39,079,125.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Insiders sold 313,169 shares of company stock worth $153,344,736 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company Profile

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.