579 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Collective Family Office LLC

Collective Family Office LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the first quarter, Holdings Channel reports. The fund bought 579 shares of the social networking company’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC increased its holdings in shares of Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its holdings in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares during the last quarter. Quest Partners LLC bought a new position in shares of Meta Platforms in the 4th quarter worth $32,000. Clear Investment Research LLC increased its holdings in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC increased its holdings in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the sale, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of the company’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 sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 313,169 shares of company stock worth $153,344,736. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

META has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Guggenheim reduced their target price on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a report on Wednesday, June 12th. Raymond James increased their price target on shares of Meta Platforms from $525.00 to $550.00 and gave the company a “strong-buy” rating in a research report on Wednesday, June 5th. Finally, Sanford C. Bernstein dropped 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 report on Thursday, April 25th. Two equities research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $510.05.

Meta Platforms Stock Performance

META opened at $501.70 on Friday. The firm has a market cap of $1.27 trillion, a P/E ratio of 28.82, a PEG ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The company has a 50 day simple moving average of $479.38 and a two-hundred day simple moving average of $445.90. 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 (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Equities analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced 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. 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 dividend payout ratio is 11.49%.

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.