Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Webster Bank N. A.

Webster Bank N. A. lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,193 shares of the social networking company’s stock after purchasing an additional 28 shares during the period. Meta Platforms makes up 1.0% of Webster Bank N. A.’s investment portfolio, making the stock its 22nd largest holding. Webster Bank N. A.’s holdings in Meta Platforms were worth $9,333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Millstone Evans Group LLC acquired a new position in Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the fourth quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms during the fourth quarter worth about $47,000. Finally, Conquis Financial LLC acquired a new position in Meta Platforms during the fourth quarter worth about $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $673.96, for a total transaction of $409,767.68. Following the transaction, the chief operating officer now directly owns 8,662 shares of the company’s stock, valued at approximately $5,837,841.52. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $635.41, for a total transaction of $329,777.79. Following the transaction, the insider now directly owns 30,221 shares in the company, valued at approximately $19,202,725.61. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,664 shares of company stock valued at $35,484,670. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

META opened at $645.05 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a 50 day moving average of $578.25 and a two-hundred day moving average of $610.43. The company has a market cap of $1.62 trillion, a P/E ratio of 26.97, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm earned $4.71 earnings per share. Meta Platforms’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s payout ratio is currently 8.19%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on META shares. Rosenblatt Securities lifted their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Loop Capital lifted their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Jefferies Financial Group cut their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, April 7th. KeyCorp boosted their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Finally, JMP Securities reissued a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $701.05.

About Meta Platforms

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.