Baird Financial Group Inc. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 835,972 shares of the social networking company’s stock after purchasing an additional 163,067 shares during the period. Meta Platforms makes up 0.7% of Baird Financial Group Inc.’s portfolio, making the stock its 29th biggest position. Baird Financial Group Inc.’s holdings in Meta Platforms were worth $295,901,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC grew its holdings in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Quest Partners LLC acquired a new position in Meta Platforms during the 4th quarter worth $32,000. Clear Investment Research LLC grew its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Finally, Cranbrook Wealth Management LLC grew its holdings in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.
Meta Platforms Trading Up 0.3 %
Shares of META stock opened at $508.84 on Thursday. Meta Platforms, Inc. has a 1 year low of $268.32 and a 1 year high of $531.49. The firm’s fifty day simple moving average is $480.99 and its 200 day simple moving average is $439.92. The firm has a market capitalization of $1.29 trillion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $36.28 billion. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.
Insider Buying and Selling
In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $503.18, for a total value of $8,404,112.36. Following the sale, the chief executive officer now owns 301,478 shares of the company’s stock, valued at approximately $151,697,700.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 514,525 shares of company stock valued at $253,108,340. 13.71% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Canaccord Genuity Group decreased their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wolfe Research cut their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday. Finally, Roth Mkm lifted their price objective on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $510.41.
Check Out Our Latest Report on Meta Platforms
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.
See Also
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