Franklin Street Advisors Inc. NC cut its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 97,378 shares of the social networking company's stock after selling 2,311 shares during the quarter. Meta Platforms comprises 3.5% of Franklin Street Advisors Inc. NC's holdings, making the stock its 6th biggest position. Franklin Street Advisors Inc. NC's holdings in Meta Platforms were worth $47,285,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Meta Platforms in the 4th quarter valued at approximately $11,285,855,000. International Assets Investment Management LLC increased its holdings in shares of Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company's stock worth $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company's stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management increased its holdings in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company's stock worth $2,616,000 after acquiring an additional 3,888,308 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company's stock valued at $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on META shares. The Goldman Sachs Group decreased their price objective on Meta Platforms from $555.00 to $500.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Wells Fargo & Company dropped their price objective on Meta Platforms from $609.00 to $600.00 and set an "overweight" rating for the company in a research report on Wednesday, April 3rd. Piper Sandler reiterated an "overweight" rating and issued a $545.00 target price (down from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. TD Cowen dropped their target price 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, Roth Mkm increased their target price on Meta Platforms from $500.00 to $510.00 and gave the company a "buy" rating in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $510.05.
Check Out Our Latest Stock Report on Meta Platforms
Insider Activity
In other news, CEO Mark Zuckerberg sold 31,465 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $491.49, for a total transaction of $15,464,732.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 31,465 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $491.49, for a total transaction of $15,464,732.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 490 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $486.75, for a total value of $238,507.50. Following the transaction, the chief operating officer now owns 8,559 shares in the company, valued at $4,166,093.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,512 shares of company stock worth $113,597,536. 13.71% of the stock is currently owned by insiders.
Meta Platforms Price Performance
NASDAQ META traded up $6.44 during trading on Thursday, reaching $519.56. The company's stock had a trading volume of 10,095,778 shares, compared to its average volume of 16,449,436. The stock has a market capitalization of $1.32 trillion, a PE ratio of 29.84, a P/E/G ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a fifty day moving average of $479.53 and a 200 day moving average of $452.69. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts' consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms's dividend payout ratio (DPR) is presently 11.49%.
Meta Platforms Company Profile
(
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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