Commerce Bank Has $77.28 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Commerce Bank lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,156 shares of the social networking company’s stock after selling 3,878 shares during the period. Commerce Bank’s holdings in Meta Platforms were worth $77,283,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Meta Platforms in the first quarter valued at approximately $44,000. Clear Investment Research LLC raised its position in 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 purchasing an additional 74 shares during the last quarter. Gilfoyle & Co LLC acquired a new position in Meta Platforms during the 4th quarter worth $39,000. Finally, Cranbrook Wealth Management LLC increased its stake 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 valued at $36,000 after buying an additional 45 shares during the period. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on META shares. Robert W. Baird decreased their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Roth Mkm boosted their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada reduced their price objective on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Oppenheimer dropped their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group reduced their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $515.64.

Meta Platforms Trading Down 0.1 %

NASDAQ:META opened at $534.04 on Thursday. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. 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’s fifty day moving average is $490.20 and its 200-day moving average is $464.66. The firm has a market cap of $1.35 trillion, a P/E ratio of 30.71, a P/E/G 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 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $36.28 billion. Equities analysts expect that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. Meta Platforms’s payout ratio is 11.49%.

Insider Activity

In related news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Insiders have sold a total of 294,768 shares of company stock valued at $146,314,257 over the last quarter. Company insiders own 13.71% of the company’s stock.

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.