Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by First Affirmative Financial Network

First Affirmative Financial Network lifted its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,754 shares of the social networking company’s stock after purchasing an additional 64 shares during the quarter. Meta Platforms comprises about 1.0% of First Affirmative Financial Network’s holdings, making the stock its 13th largest holding. First Affirmative Financial Network’s holdings in Meta Platforms were worth $1,337,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in META. Norges Bank acquired a new stake in shares of Meta Platforms in the fourth 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% in 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 increased its holdings in shares of Meta Platforms by 17.2% in 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 increased its holdings in shares of Meta Platforms by 111.0% in 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, Vanguard Group Inc. increased its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $505.75, for a total value of $208,369.00. Following the sale, the chief operating officer now owns 8,031 shares of the company’s stock, valued at $4,061,678.25. The disclosure for this sale can be found here. Insiders sold a total of 313,169 shares of company stock worth $153,344,736 in the last ninety days. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on META shares. Truist Financial cut their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wedbush dropped their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Canaccord Genuity Group dropped their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Rosenblatt Securities lifted their price objective on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $510.05.

View Our Latest Stock Report on META

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $494.78 on Friday. The business’s 50 day simple moving average is $478.61 and its 200-day simple moving average is $448.41. The firm has a market capitalization of $1.26 trillion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 1.30 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. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is 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.

Further Reading

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

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