Red Spruce Capital LLC Has $4.46 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Red Spruce Capital LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,194 shares of the social networking company’s stock after selling 327 shares during the quarter. Meta Platforms comprises approximately 2.1% of Red Spruce Capital LLC’s investment portfolio, making the stock its 13th biggest holding. Red Spruce Capital LLC’s holdings in Meta Platforms were worth $4,464,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Meta Platforms in the fourth quarter worth about $11,285,855,000. International Assets Investment Management LLC grew its position 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 buying an additional 4,908,251 shares during the period. Capital Research Global Investors raised its stake in shares of Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management lifted its holdings in 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 buying an additional 3,888,308 shares during the period. Finally, Vanguard Group Inc. boosted its stake in 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 acquiring an additional 3,104,550 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the topic of a number of analyst reports. Royal Bank of Canada cut their price target on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday, April 25th. Raymond James boosted their target price on Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, June 5th. Guggenheim cut their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Sanford C. Bernstein lowered their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two investment 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $510.05.

Check Out Our Latest Report on META

Meta Platforms Price Performance

Meta Platforms stock opened at $494.78 on Friday. The company has a market capitalization of $1.26 trillion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.30 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The stock’s 50 day moving average is $478.61 and its 200-day moving average is $447.50.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 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. Equities research analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio is 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $504.82, for a total value of $39,079,125.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Insiders sold 313,169 shares of company stock worth $153,344,736 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

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

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