Meta Platforms, Inc. (NASDAQ:META) Stake Raised by WoodTrust Financial Corp

WoodTrust Financial Corp raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.2% in the first quarter, Holdings Channel reports. The firm owned 1,643 shares of the social networking company’s stock after buying an additional 96 shares during the period. WoodTrust Financial Corp’s holdings in Meta Platforms were worth $798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter valued at about $11,285,855,000. International Assets Investment Management LLC grew its holdings in Meta Platforms by 11,154.4% in the 4th 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 buying an additional 4,908,251 shares during the last quarter. Capital Research Global Investors grew its holdings in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management grew its holdings in Meta Platforms by 111.0% in the 4th 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 last quarter. Finally, Vanguard Group Inc. grew its holdings in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total value of $449,775.95. Following the sale, the insider now owns 38,750 shares in the company, valued at $19,258,362.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total value of $449,775.95. Following the sale, the insider now owns 38,750 shares in the company, valued at $19,258,362.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 31,465 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $491.49, for a total value of $15,464,732.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 233,512 shares of company stock worth $113,597,536. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 3.0 %

NASDAQ:META opened at $504.22 on Friday. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.31 and a beta of 1.21. The stock has a 50-day moving average price of $480.00 and a two-hundred day moving average price of $454.77.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results 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. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research analyst reports. Sanford C. Bernstein lowered their target price on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Canaccord Genuity Group decreased their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and set a $550.00 price objective on shares of Meta Platforms in a report on Monday, April 22nd. Wells Fargo & Company decreased their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Finally, BNP Paribas started coverage on Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average 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.