Mach 1 Financial Group LLC Raises Stock Holdings in Meta Platforms, Inc. $META

Mach 1 Financial Group LLC grew its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 629.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,414 shares of the social networking company’s stock after acquiring an additional 7,260 shares during the quarter. Meta Platforms comprises approximately 1.1% of Mach 1 Financial Group LLC’s portfolio, making the stock its 22nd biggest holding. Mach 1 Financial Group LLC’s holdings in Meta Platforms were worth $5,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after purchasing an additional 7,269,279 shares during the last quarter. State Street Corp boosted its stake in shares of Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after purchasing an additional 1,650,435 shares during the last quarter. Capital World Investors grew its stake in Meta Platforms by 0.7% in the 3rd quarter. Capital World Investors now owns 39,247,690 shares of the social networking company’s stock worth $28,823,375,000 after acquiring an additional 278,180 shares during the period. Invesco Ltd. grew its stake in Meta Platforms by 0.8% in the 3rd quarter. Invesco Ltd. now owns 17,153,754 shares of the social networking company’s stock worth $12,597,374,000 after acquiring an additional 142,229 shares during the period. Finally, Legal & General Group Plc grew its stake in Meta Platforms by 4.1% in the 3rd quarter. Legal & General Group Plc now owns 14,332,168 shares of the social networking company’s stock worth $10,525,258,000 after acquiring an additional 558,792 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

Insider Buying and Selling at Meta Platforms

In related news, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the sale, the chief technology officer owned 414 shares of the company’s stock, valued at approximately $251,641.62. This represents a 94.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Susan J. Li sold 9,195 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the sale, the chief financial officer directly owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. This trade represents a 41.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 42,445 shares of company stock worth $26,306,420 in the last quarter. Company insiders own 13.53% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $632.51 on Friday. The stock has a 50-day moving average price of $617.84 and a two-hundred day moving average price of $636.88. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.60 trillion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.12 and a beta of 1.25.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. During the same quarter in the previous year, the business earned $6.43 earnings per share. The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, research analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s dividend payout ratio is 7.63%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citizens Jmp reaffirmed a “market outperform” rating and issued a $900.00 target price on shares of Meta Platforms in a research note on Tuesday, April 21st. UBS Group dropped their target price on Meta Platforms from $908.00 to $865.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Cantor Fitzgerald dropped their target price on Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Truist Financial dropped their target price on Meta Platforms from $900.00 to $840.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Wall Street Zen lowered Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $840.19.

View Our Latest Stock Report on Meta Platforms

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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