Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 10.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,524 shares of the social networking company’s stock after purchasing an additional 1,788 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Meta Platforms were worth $8,995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. S.A. Mason LLC raised its stake in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares in the last quarter. LongView Wealth Management raised its stake in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares in the last quarter. Madison Wealth Partners Inc raised its stake in shares of Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after purchasing an additional 23 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. raised its stake in shares of Meta Platforms by 1.9% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock worth $648,000 after purchasing an additional 23 shares in the last quarter. Finally, Monterey Private Wealth Inc. raised its stake in shares of Meta Platforms by 1.8% during the 1st quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock worth $670,000 after purchasing an additional 24 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Down 3.0 %

Shares of META opened at $504.22 on Friday. The stock has a fifty day moving average price of $480.00 and a two-hundred day moving average price of $453.93. 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. The company has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.35 and a beta of 1.21.

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

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wedbush cut their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Citigroup cut their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $510.05.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 31,465 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $491.49, for a total transaction of $15,464,732.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Mark Zuckerberg sold 31,465 shares of Meta Platforms stock in a transaction on Monday, April 1st. The stock was sold at an average price of $491.49, for a total transaction of $15,464,732.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $486.75, for a total value of $238,507.50. Following the completion of the transaction, the chief operating officer now directly owns 8,559 shares of the company’s stock, valued at $4,166,093.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,512 shares of company stock worth $113,597,536. 13.71% of the stock is currently owned by insiders.

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.