Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Nvest Financial LLC

Nvest Financial LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 51.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,966 shares of the social networking company’s stock after purchasing an additional 671 shares during the quarter. Nvest Financial LLC’s holdings in Meta Platforms were worth $955,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC raised its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares in the last quarter. Quest Partners LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC raised 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 valued at $33,000 after acquiring an additional 74 shares in the last quarter. Cranbrook Wealth Management LLC raised its holdings 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 acquiring an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Wedbush cut their price objective on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada cut their price objective on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Finally, Jefferies Financial Group cut their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” 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 assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $511.27.

Insider Buying and Selling

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated 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 252,395 shares of company stock worth $123,781,816 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $509.96 on Thursday. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week 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 firm’s 50-day simple moving average is $481.05 and its 200 day simple moving average is $458.42. The firm has a market capitalization of $1.29 trillion, a PE ratio of 29.29, a P/E/G ratio of 1.31 and a beta of 1.21.

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

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. 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 is presently 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.