Emprise Bank acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,709 shares of the social networking company's stock, valued at approximately $1,801,000. Meta Platforms comprises approximately 1.2% of Emprise Bank's investment portfolio, making the stock its 21st biggest position.
Other large investors also recently modified their holdings of the company. jvl associates llc boosted its holdings in Meta Platforms by 6.9% during the 1st quarter. jvl associates llc now owns 777 shares of the social networking company's stock valued at $377,000 after acquiring an additional 50 shares during the period. Bath Savings Trust Co bought a new stake in Meta Platforms in the first quarter valued at approximately $218,000. Atlas Brown Inc. boosted its stake in shares of Meta Platforms by 1.5% during the first quarter. Atlas Brown Inc. now owns 5,704 shares of the social networking company's stock valued at $2,770,000 after purchasing an additional 85 shares during the period. Pensionfund Sabic purchased a new stake in shares of Meta Platforms during the first quarter valued at approximately $6,215,000. Finally, RVW Wealth LLC grew its holdings in shares of Meta Platforms by 8.5% in the first quarter. RVW Wealth LLC now owns 1,008 shares of the social networking company's stock worth $489,000 after purchasing an additional 79 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Stock Performance
NASDAQ:META traded down $7.14 during mid-day trading on Wednesday, hitting $499.49. 13,060,425 shares of the company traded hands, compared to its average volume of 10,555,756. The stock's fifty day moving average price is $479.79 and its 200-day moving average price is $445.53. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49. The firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (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 company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Research analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend 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%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on META shares. BNP Paribas started coverage on shares of Meta Platforms in a research report on Thursday, May 2nd. They set an "underperform" rating and a $360.00 price target for the company. JMP Securities reiterated a "market outperform" rating and set a $550.00 target price on shares of Meta Platforms in a report on Monday, April 22nd. Wedbush reduced their price target on Meta Platforms from $570.00 to $480.00 and set an "outperform" rating on the stock in a report on Thursday, April 25th. TD Cowen lowered their price target on Meta Platforms from $590.00 to $530.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Finally, Citigroup cut their price objective on Meta Platforms from $590.00 to $550.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $510.41.
Read Our Latest Stock Analysis on Meta Platforms
Insider Buying and Selling
In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm's stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the sale, the insider now directly owns 36,643 shares of the company's stock, valued at $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Mark Zuckerberg sold 77,412 shares of the company's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $506.92, for a total transaction of $39,241,691.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 391,071 shares of company stock valued at $192,834,857. Company insiders own 13.71% of the company's stock.
About Meta Platforms
(
Free Report)
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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