Diversified Trust Co Has $27.95 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Diversified Trust Co grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,567 shares of the social networking company’s stock after buying an additional 3,310 shares during the period. Meta Platforms accounts for about 0.8% of Diversified Trust Co’s holdings, making the stock its 20th biggest holding. Diversified Trust Co’s holdings in Meta Platforms were worth $27,953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in META. Beaird Harris Wealth Management LLC raised its position in shares of Meta Platforms by 68.9% in the 3rd 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 in the last quarter. Quest Partners LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Cranbrook Wealth Management LLC lifted its stake in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $39,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 0.1 %

Meta Platforms stock opened at $504.68 on Tuesday. The firm has a 50 day simple moving average of $480.46 and a 200 day simple 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. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.99, a P/E/G ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced 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. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. On average, analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently issued reports on META. Truist Financial dropped their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. BNP Paribas initiated coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. BMO Capital Markets restated a “market perform” rating and issued a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft dropped their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. cut their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Two equities 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 assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $511.27.

Insider Activity

In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Friday, June 28th. The stock was sold at an average price of $514.96, for a total transaction of $8,600,861.92. Following the completion of the sale, the chief executive officer now owns 213,007 shares of the company’s stock, valued at $109,690,084.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $514.96, for a total transaction of $8,600,861.92. Following the completion of the sale, the chief executive officer now directly owns 213,007 shares in the company, valued at $109,690,084.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $514.41, for a total transaction of $211,936.92. Following the completion of the transaction, the chief operating officer now directly owns 7,207 shares in the company, valued at approximately $3,707,352.87. The disclosure for this sale can be found here. Insiders sold 218,086 shares of company stock worth $106,423,370 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms 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.