Madrona Financial Services LLC Acquires 35 Shares of Meta Platforms, Inc. (NASDAQ:META)

Madrona Financial Services LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,023 shares of the social networking company’s stock after purchasing an additional 35 shares during the quarter. Madrona Financial Services LLC’s holdings in Meta Platforms were worth $497,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC grew its position 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 worth $31,000 after acquiring an additional 42 shares in the last quarter. Quest Partners LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at about $32,000. Clear Investment Research LLC raised its stake in shares of Meta Platforms by 411.1% during 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 during the last quarter. Cranbrook Wealth Management LLC raised its stake in shares of Meta Platforms by 80.4% during 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 during the last quarter. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at about $39,000. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Robert W. Baird lowered their price objective on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Barclays lowered their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Monday. Finally, JMP Securities reissued a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research note on Monday, April 22nd. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $511.27.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $509.96 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market cap of $1.29 trillion, a P/E ratio of 29.29, a P/E/G ratio of 1.32 and a beta of 1.21. The firm’s fifty day moving average is $482.42 and its two-hundred day moving average is $458.78. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 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 business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. As a group, analysts anticipate that Meta Platforms, Inc. will post 20.15 EPS 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 issued 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 currently 11.49%.

Insider Activity

In related news, CFO Susan J. Li sold 8,951 shares of the business’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 transaction of $4,223,529.35. Following the completion of the transaction, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 585 shares of the company’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 sale, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the sale, the chief financial officer now directly owns 74,580 shares in the company, valued at $35,190,573. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,905 shares of company stock worth $123,528,726. 13.71% of the stock is currently owned by corporate 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.