90 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Kathleen S. Wright Associates Inc.

Kathleen S. Wright Associates Inc. purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 90 shares of the social networking company’s stock, valued at approximately $44,000.

A number of other hedge funds have also recently bought and sold shares of META. Norges Bank bought a new position in Meta Platforms in the fourth quarter valued at approximately $11,285,855,000. International Assets Investment Management LLC grew its stake in 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 in the last quarter. Capital Research Global Investors boosted its stake 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 period. Concentrum Wealth Management boosted its stake 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 period. Finally, Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were 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 owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $486.75, for a total transaction of $238,507.50. Following the sale, the chief operating officer now directly owns 8,559 shares of the company’s stock, valued at approximately $4,166,093.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,512 shares of company stock worth $113,597,536. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 3.0 %

META stock traded down $15.34 during trading on Friday, hitting $504.22. 15,855,137 shares of the company’s stock traded hands, compared to its average volume of 11,400,792. The business has a fifty day simple moving average of $480.00 and a two-hundred day simple moving average of $454.77. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The firm has a market capitalization of $1.28 trillion, a P/E ratio of 28.96, a PEG ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid 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 0.40%. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James lifted their target price on Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, June 5th. Royal Bank of Canada reduced their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. BNP Paribas assumed coverage on Meta Platforms in a research note on Thursday, May 2nd. They set an “underperform” rating and a $360.00 target price for the company. The Goldman Sachs Group reduced their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $510.05.

Meta Platforms Company Profile

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.