Ethic Inc. Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

Ethic Inc. increased its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,390 shares of the social networking company’s stock after acquiring an additional 7,477 shares during the quarter. Meta Platforms makes up 1.0% of Ethic Inc.’s investment portfolio, making the stock its 10th largest position. Ethic Inc.’s holdings in Meta Platforms were worth $32,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of META. Valley Forge Investment Consultants Inc. ADV grew its position in Meta Platforms by 18.8% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 500 shares of the social networking company’s stock worth $150,000 after acquiring an additional 79 shares during the last quarter. Arjuna Capital grew its position in shares of Meta Platforms by 36.9% in the 3rd quarter. Arjuna Capital now owns 11,697 shares of the social networking company’s stock worth $3,512,000 after buying an additional 3,150 shares during the last quarter. Cyrus J. Lawrence LLC grew its position in shares of Meta Platforms by 408.4% in the 3rd quarter. Cyrus J. Lawrence LLC now owns 33,593 shares of the social networking company’s stock worth $10,084,000 after buying an additional 26,986 shares during the last quarter. Sykon Capital LLC grew its position in shares of Meta Platforms by 28.6% in the 3rd quarter. Sykon Capital LLC now owns 5,316 shares of the social networking company’s stock worth $1,596,000 after buying an additional 1,181 shares during the last quarter. Finally, Foundry Partners LLC grew its position in shares of Meta Platforms by 19.3% in the 3rd quarter. Foundry Partners LLC now owns 960 shares of the social networking company’s stock worth $288,000 after buying an additional 155 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $495.66, for a total value of $38,370,031.92. The disclosure for this sale can be found here. Insiders sold 575,235 shares of company stock valued at $283,074,260 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent analyst reports. Raymond James lifted their price objective on Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, June 5th. Wolfe Research cut their price objective on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Loop Capital cut their price objective on Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their target price on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, Guggenheim lowered their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.41.

Read Our Latest Analysis on META

Meta Platforms Stock Performance

Shares of META traded down $2.02 during trading hours on Tuesday, hitting $500.58. The stock had a trading volume of 3,792,253 shares, compared to its average volume of 16,797,768. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $265.33 and a 12 month high of $531.49. The firm has a market capitalization of $1.27 trillion, a PE ratio of 28.88, a PEG ratio of 1.28 and a beta of 1.21. The stock has a fifty day moving average price of $480.74 and a 200 day moving average price of $438.24.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

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.

See Also

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

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