513 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Pettinga Financial Advisors LLC

Pettinga Financial Advisors LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 513 shares of the social networking company’s stock, valued at approximately $249,000.

A number of other large investors have also recently bought and sold shares of the business. S.A. Mason LLC lifted its holdings in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the last quarter. LongView Wealth Management lifted its holdings in Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares during the last quarter. Madison Wealth Partners Inc raised its holdings in shares of Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after buying an additional 23 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. raised its holdings in shares of Meta Platforms by 1.9% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock valued at $648,000 after buying an additional 23 shares during the last quarter. Finally, Monterey Private Wealth Inc. raised its holdings in shares of 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 valued at $670,000 after buying an additional 24 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on META shares. 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. Wells Fargo & Company dropped their target price on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Monday. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Guggenheim decreased their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $511.27.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. The disclosure for this sale can be found here. Insiders sold a total of 218,086 shares of company stock valued at $106,423,370 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $504.68 on Tuesday. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.31 and a beta of 1.21. The company has a 50 day moving average of $480.46 and a 200-day moving average of $456.83. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year 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 for the quarter, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

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.