First Command Advisory Services Inc. Has $1.32 Million Position in Meta Platforms, Inc. (NASDAQ:META)

First Command Advisory Services Inc. raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,719 shares of the social networking company’s stock after buying an additional 60 shares during the quarter. First Command Advisory Services Inc.’s holdings in Meta Platforms were worth $1,315,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. S.A. Mason LLC lifted its stake in Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN lifted its stake in Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after acquiring an additional 21 shares in the last quarter. LongView Wealth Management raised its stake in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Meta Platforms by 5.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after purchasing an additional 22 shares in the last quarter. Finally, Madison Wealth Partners Inc raised its stake in shares of Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after purchasing an additional 23 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. UBS Group dropped their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Jefferies Financial Group dropped their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Piper Sandler restated an “overweight” rating and issued a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Finally, Wells Fargo & Company raised their price target on Meta Platforms from $593.00 to $625.00 and gave the company an “overweight” rating in a report on Monday. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $513.59.

Insider Buying and Selling

In related news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated 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 approximately $7,268,235.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total value of $287,381.25. Following the transaction, the insider now directly owns 37,228 shares in the company, valued at $18,288,255. The disclosure for this sale can be found here. Insiders have sold 260,459 shares of company stock worth $128,049,749 in the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.1 %

Shares of META opened at $530.00 on Wednesday. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The business’s fifty day moving average is $488.29 and its 200-day moving average is $464.16. 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 $1.34 trillion, a price-to-earnings ratio of 30.44, a PEG ratio of 1.37 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued 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. 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%. Equities analysts anticipate that Meta Platforms, Inc. will post 20.15 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s dividend payout ratio is currently 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.