Azzad Asset Management Inc. ADV Acquires 110 Shares of Meta Platforms, Inc. (NASDAQ:META)

Azzad Asset Management Inc. ADV increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,721 shares of the social networking company’s stock after acquiring an additional 110 shares during the quarter. Meta Platforms makes up approximately 2.1% of Azzad Asset Management Inc. ADV’s holdings, making the stock its 4th biggest holding. Azzad Asset Management Inc. ADV’s holdings in Meta Platforms were worth $18,317,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC bought a new position in Meta Platforms in the 4th quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms in the 1st quarter worth about $44,000. Clear Investment Research LLC grew its position in Meta Platforms by 411.1% in the 4th 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 during the last quarter. Gilfoyle & Co LLC bought a new position in Meta Platforms in the 4th quarter worth about $39,000. Finally, Cranbrook Wealth Management LLC grew its position in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $516.51, for a total transaction of $253,089.90. Following the transaction, the chief operating officer now owns 8,069 shares in the company, valued at approximately $4,167,719.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $516.51, for a total transaction of $253,089.90. Following the completion of the transaction, the chief operating officer now owns 8,069 shares in the company, valued at $4,167,719.19. The disclosure for this sale can be found here. Insiders have sold a total of 252,395 shares of company stock worth $123,781,816 in the last 90 days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 0.1 %

META stock opened at $509.96 on Thursday. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.29 trillion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.32 and a beta of 1.21. The company has a 50 day moving average of $481.05 and a two-hundred day moving average of $458.42.

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

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wedbush decreased their price objective on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Guggenheim decreased their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Raymond James increased their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday. Finally, Truist Financial decreased their price objective on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $511.27.

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.