Birchwood Financial Partners Inc. Takes $636,000 Position in Meta Platforms, Inc. $META

Birchwood Financial Partners Inc. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) in the 4th quarter, Holdings Channel.com reports. The firm bought 963 shares of the social networking company’s stock, valued at approximately $636,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Westchester Capital Management Inc. purchased a new stake in shares of Meta Platforms during the third quarter valued at approximately $26,000. RHL Group LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth $28,000. Strategic Wealth Advisors LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth $29,000. Niles Investment Management LLC bought a new stake in Meta Platforms during the 4th quarter valued at $29,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the 4th quarter valued at $42,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

META stock opened at $577.22 on Friday. The firm has a 50 day moving average price of $621.98 and a 200-day moving average price of $634.55. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.01 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35.

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

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 issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s payout ratio is 7.63%.

Analysts Set New Price Targets

A number of research analysts have commented on META shares. UBS Group lowered Meta Platforms from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Mizuho cut their price objective on Meta Platforms from $850.00 to $835.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $810.00 target price on shares of Meta Platforms in a research note on Monday, June 1st. Piper Sandler initiated coverage on Meta Platforms in a report on Tuesday, June 2nd. They set an “overweight” rating for the company. Finally, Cantor Fitzgerald decreased their target price on Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $840.60.

Check Out Our Latest Analysis on META

Insiders Place Their Bets

In other news, Director Robert M. Kimmitt sold 504 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $629.29, for a total value of $317,162.16. Following the sale, the director directly owned 3,943 shares of the company’s stock, valued at approximately $2,481,290.47. This represents a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction, the insider owned 1,118 shares of the company’s stock, valued at $681,890.56. The trade was a 65.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 40,568 shares of company stock valued at $25,057,365. 13.53% of the stock is currently owned by corporate insiders.

Trending Headlines about Meta Platforms

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

About Meta Platforms

(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.

Recommended Stories

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

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

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.