Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by SageView Advisory Group LLC

SageView Advisory Group LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 40.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,786 shares of the social networking company's stock after acquiring an additional 5,668 shares during the quarter. SageView Advisory Group LLC's holdings in Meta Platforms were worth $7,003,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Meta Platforms during the fourth quarter valued at approximately $11,285,855,000. International Assets Investment Management LLC grew its holdings in shares of Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company's stock valued at $1,752,900,000 after purchasing an additional 4,908,251 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company's stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management grew its holdings in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company's stock valued at $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Meta Platforms by 1,457.5% during the fourth quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company's stock valued at $1,117,225,000 after purchasing an additional 2,953,704 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on META shares. JMP Securities reaffirmed a "market outperform" rating and set a $550.00 target price on shares of Meta Platforms in a report on Monday, April 22nd. JPMorgan Chase & Co. lowered their target price on Meta Platforms from $535.00 to $480.00 and set an "overweight" rating for the company in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lowered their target price on Meta Platforms from $540.00 to $500.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Loop Capital decreased their price objective on Meta Platforms from $555.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, May 1st. Finally, Rosenblatt Securities increased their price objective on Meta Platforms from $520.00 to $562.00 and gave the stock a "buy" rating 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 issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $510.41.

Meta Platforms Stock Up 0.1 %

Shares of NASDAQ META traded up $0.56 during mid-day trading on Friday, reaching $504.16. 10,243,347 shares of the company traded hands, compared to its average volume of 10,607,878. The company's fifty day moving average is $480.39 and its two-hundred day moving average is $442.26. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a fifty-two week low of $271.42 and a fifty-two week high of $531.49. The stock has a market cap of $1.28 trillion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS 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 for the quarter, compared to the consensus estimate of $36.28 billion. On average, analysts expect 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 will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms's dividend payout ratio (DPR) is 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the company's stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the company's stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $503.18, for a total transaction of $8,404,112.36. Following the completion of the sale, the chief executive officer now owns 301,478 shares of the company's stock, valued at approximately $151,697,700.04. The disclosure for this sale can be found here. Insiders sold 437,528 shares of company stock worth $215,768,262 over the last ninety days. Company insiders own 13.71% of the company's stock.

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.

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