Addison Capital Co grew its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,310 shares of the social networking company’s stock after buying an additional 37 shares during the quarter. Addison Capital Co’s holdings in Meta Platforms were worth $1,122,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in META. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter worth $32,000. Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Cranbrook Wealth Management LLC raised its holdings in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Gilfoyle & Co LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $39,000. Finally, Richardson Financial Services Inc. increased its position in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.
Insider Activity
In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the transaction, the insider now directly owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total value of $287,381.25. Following the sale, the insider now owns 37,228 shares in the company, valued at approximately $18,288,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The disclosure for this sale can be found here. Insiders have sold 308,979 shares of company stock worth $153,474,852 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.
Meta Platforms Trading Down 4.6 %
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating 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 company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.21 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.
Wall Street Analysts Forecast Growth
META has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. UBS Group lowered their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. TD Cowen upped their price objective on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group dropped their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Loop Capital restated a “buy” rating and set a $550.00 price objective on shares of Meta Platforms in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $518.50.
Get Our Latest Research Report on Meta Platforms
Meta Platforms 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.
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