Clifford Swan Investment Counsel LLC Acquires 2,159 Shares of Meta Platforms, Inc. $META

Clifford Swan Investment Counsel LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 33,309 shares of the social networking company’s stock after purchasing an additional 2,159 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Meta Platforms were worth $21,987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of META. Brighton Jones LLC boosted its holdings in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after buying an additional 875 shares during the period. Headwater Capital Co Ltd boosted its holdings in Meta Platforms by 294.7% in the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after buying an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. bought a new position in Meta Platforms in the 2nd quarter worth approximately $213,000. Finally, Capital & Planning LLC bought a new position in Meta Platforms in the 2nd quarter worth approximately $322,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Meta Platforms stock opened at $570.98 on Thursday. The firm’s fifty day moving average price is $621.46 and its 200-day moving average price is $636.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market cap of $1.44 trillion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the company posted $6.43 EPS. On average, equities research analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. Meta Platforms’s dividend payout ratio (DPR) is 7.63%.

Insider Activity

In related news, CFO Susan J. Li sold 9,195 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the transaction, the chief financial officer owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. This trade represents a 41.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Curtis J. Mahoney sold 2,079 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the transaction, the insider directly owned 1,118 shares in the company, valued at approximately $681,890.56. This represents a 65.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 41,305 shares of company stock worth $25,567,928. Corporate insiders own 13.53% of the company’s stock.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Analysts Set New Price Targets

META has been the subject of several analyst reports. The Goldman Sachs Group downgraded shares of Meta Platforms from a “buy” rating to a “sell” rating in a report on Tuesday, June 2nd. Sanford C. Bernstein cut their price objective on shares of Meta Platforms from $900.00 to $850.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. TD Cowen cut their price objective on shares of Meta Platforms from $820.00 to $800.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Raymond James Financial upgraded shares of Meta Platforms from an “underperform” rating to an “outperform” rating in a research note on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $725.00 target price (down from $825.00) on shares of Meta Platforms in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $840.60.

Read Our Latest Report on META

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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