Collective Family Office LLC Acquires Shares of 579 Meta Platforms, Inc. (NASDAQ:META)

Collective Family Office LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 579 shares of the social networking company’s stock, valued at approximately $281,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of META. Madison Wealth Partners Inc grew its position in shares of Meta Platforms by 1.6% in the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after purchasing an additional 23 shares during the last quarter. Monterey Private Wealth Inc. grew its position in Meta Platforms by 1.8% during the first quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock worth $670,000 after buying an additional 24 shares in the last quarter. Addison Advisors LLC grew its position in Meta Platforms by 3.9% during the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock worth $237,000 after buying an additional 25 shares in the last quarter. Smithfield Trust Co grew its position in Meta Platforms by 0.5% during the fourth quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company’s stock worth $1,730,000 after buying an additional 25 shares in the last quarter. Finally, American National Bank grew its position in Meta Platforms by 1.6% during the fourth quarter. American National Bank now owns 1,590 shares of the social networking company’s stock worth $563,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $492.14, for a total transaction of $15,498,965.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,169 shares of company stock valued at $153,344,736. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

META has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Roth Mkm boosted their target price on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Canaccord Genuity Group reduced their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Truist Financial reduced their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $510.05.

Meta Platforms Stock Up 0.4 %

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

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

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

About Meta Platforms

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.