Nicolet Advisory Services LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 17.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,446 shares of the social networking company’s stock after purchasing an additional 1,663 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Meta Platforms were worth $7,348,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of META. Keybank National Association OH increased its stake in Meta Platforms by 15.7% during the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock worth $88,319,000 after acquiring an additional 18,169 shares during the period. Becker Capital Management Inc. increased its stake in Meta Platforms by 5.0% during the 3rd quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock worth $25,741,000 after acquiring an additional 1,657 shares during the period. Diversified Trust Co. increased its stake in Meta Platforms by 4.1% during the 4th quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock worth $55,487,000 after acquiring an additional 3,336 shares during the period. Cramer Rosenthal Mcglynn LLC increased its stake in Meta Platforms by 16.2% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock worth $5,091,000 after acquiring an additional 968 shares during the period. Finally, Consolidated Investment Group LLC increased its stake in Meta Platforms by 61.2% during the 4th quarter. Consolidated Investment Group LLC now owns 7,900 shares of the social networking company’s stock worth $5,215,000 after acquiring an additional 3,000 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Stock Performance
Shares of Meta Platforms stock opened at $566.98 on Monday. The firm’s 50 day moving average is $621.15 and its 200 day moving average is $636.05. The firm has a market capitalization of $1.43 trillion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year 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.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s payout ratio is presently 7.63%.
Insider Activity
In related news, CFO Susan J. Li sold 9,195 shares of the firm’s stock in a transaction 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 owned 13,186 shares of the company’s stock, valued at $8,014,978.24. This trade represents a 41.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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, insider Curtis J. Mahoney sold 2,079 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total value of $1,268,023.68. Following the sale, the insider directly owned 1,118 shares in the company, valued at approximately $681,890.56. This trade represents a 65.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 39,170 shares of company stock valued at $24,218,565. 13.53% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on META shares. Stifel Nicolaus lowered their price objective on Meta Platforms from $805.00 to $780.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Susquehanna upgraded Meta Platforms from a “positive” rating to a “positive” rating in a research note on Tuesday, June 2nd. Barclays raised their price objective on Meta Platforms from $800.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Wells Fargo & Company lowered their price objective on Meta Platforms from $770.00 to $765.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Finally, TD Cowen lowered their price objective on Meta Platforms from $820.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $840.60.
View Our Latest Analysis on META
Meta Platforms News Summary
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
- Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
- Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.
Meta Platforms Profile
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.
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