Folger Nolan Fleming Douglas Capital Management Inc. Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Folger Nolan Fleming Douglas Capital Management Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,368 shares of the social networking company’s stock after acquiring an additional 153 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Meta Platforms were worth $664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. High Net Worth Advisory Group LLC increased its position in shares of Meta Platforms by 2.2% during the first quarter. High Net Worth Advisory Group LLC now owns 3,578 shares of the social networking company’s stock valued at $1,737,000 after acquiring an additional 78 shares in the last quarter. Ballentine Partners LLC raised its stake in Meta Platforms by 4.7% during the 1st quarter. Ballentine Partners LLC now owns 54,375 shares of the social networking company’s stock valued at $26,404,000 after buying an additional 2,420 shares during the last quarter. Security Financial Services INC. raised its stake in Meta Platforms by 4.1% during the 1st quarter. Security Financial Services INC. now owns 821 shares of the social networking company’s stock valued at $399,000 after buying an additional 32 shares during the last quarter. San Luis Wealth Advisors LLC raised its stake in Meta Platforms by 8.0% during the 1st quarter. San Luis Wealth Advisors LLC now owns 1,424 shares of the social networking company’s stock valued at $692,000 after buying an additional 106 shares during the last quarter. Finally, Opal Wealth Advisors LLC raised its stake in Meta Platforms by 3.8% during the 1st quarter. Opal Wealth Advisors LLC now owns 2,349 shares of the social networking company’s stock valued at $1,141,000 after buying an additional 85 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.8 %

META stock opened at $498.91 on Tuesday. The company has a fifty day moving average of $478.58 and a 200-day moving average of $450.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization of $1.27 trillion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results 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. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be issued a $0.50 dividend. The ex-dividend date 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 presently 11.49%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 31,493 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $492.14, for a total value of $15,498,965.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the transaction, the chief financial officer now directly owns 74,580 shares in the company, valued at approximately $35,190,573. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were 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. Insiders sold 237,638 shares of company stock worth $115,205,996 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on META shares. Wedbush decreased their target price on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Sanford C. Bernstein decreased their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, KeyCorp upped their price objective on Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $510.05.

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.