Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Perpetual Ltd

Perpetual Ltd raised its position in Meta Platforms, Inc. (NASDAQ:META) by 62.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,224 shares of the social networking company’s stock after buying an additional 9,668 shares during the period. Perpetual Ltd’s holdings in Meta Platforms were worth $12,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Stone House Investment Management LLC lifted its stake in 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 purchasing an additional 75 shares in the last quarter. Quest Partners LLC purchased a new position in Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% during the fourth 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. Gilfoyle & Co LLC acquired a new position in Meta Platforms during the fourth quarter worth $39,000. Finally, Cranbrook Wealth Management LLC grew its holdings in Meta Platforms by 80.4% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on META shares. Canaccord Genuity Group lowered 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. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Guggenheim dropped their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. BNP Paribas began coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price on the stock. Finally, Raymond James increased their price target on Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $510.05.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $504.82, for a total transaction of $39,079,125.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $505.75, for a total transaction of $208,369.00. Following the completion of the transaction, the chief operating officer now owns 8,031 shares of the company’s stock, valued at approximately $4,061,678.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $504.82, for a total value of $39,079,125.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 313,169 shares of company stock valued at $153,344,736. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

META opened at $501.70 on Friday. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. 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. The firm has a 50-day moving average of $479.38 and a 200 day moving average of $445.90.

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 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 during the quarter, compared to the consensus estimate of $36.28 billion. On average, research analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.