Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,477 shares of the social networking company’s stock after buying an additional 2,211 shares during the quarter. Meta Platforms comprises 1.0% of Whittier Trust Co. of Nevada Inc.’s holdings, making the stock its 16th biggest position. Whittier Trust Co. of Nevada Inc.’s holdings in Meta Platforms were worth $33,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. Capital World Investors lifted its position in shares of Meta Platforms by 2.5% during the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after acquiring an additional 927,491 shares during the last quarter. Capital International Investors lifted its position in shares of Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares during the last quarter. Norges Bank bought a new stake in shares of Meta Platforms during the 4th quarter worth $11,285,855,000. Finally, Capital Research Global Investors grew its holdings in shares of Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on META. Wolfe Research decreased their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. BNP Paribas started coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price for the company. Royal Bank of Canada cut their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Robert W. Baird decreased their price objective on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, JMP Securities reissued a “market outperform” rating and set a $550.00 target price on shares of Meta Platforms in a research note on Monday, April 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $513.59.

Check Out Our Latest Analysis on Meta Platforms

Meta Platforms Price Performance

NASDAQ:META opened at $530.61 on Wednesday. The company has a fifty day moving average price of $488.29 and a 200 day moving average price of $464.16. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market cap of $1.35 trillion, a P/E ratio of 30.44, a PEG ratio of 1.37 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $36.28 billion. Analysts anticipate that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction dated 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 sale, the chief financial officer now directly owns 74,580 shares in the company, valued at approximately $35,190,573. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the sale, the chief executive officer now owns 318,932 shares in the company, valued at $159,759,417.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 260,459 shares of company stock worth $128,049,749. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Profile

(Free Report)

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.

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

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