Meta Platforms, Inc. (NASDAQ:META) is Washburn Capital Management Inc.’s 10th Largest Position

Washburn Capital Management Inc. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,263 shares of the social networking company’s stock after selling 100 shares during the quarter. Meta Platforms accounts for about 1.9% of Washburn Capital Management Inc.’s holdings, making the stock its 10th biggest position. Washburn Capital Management Inc.’s holdings in Meta Platforms were worth $2,654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. S.A. Mason LLC grew its holdings in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN increased its holdings in Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after acquiring an additional 21 shares in the last quarter. Northern Capital Management Inc. raised its position in Meta Platforms by 3.4% during the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after acquiring an additional 21 shares during the last quarter. Buckingham Capital Management Inc. raised its position in Meta Platforms by 5.1% during the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after acquiring an additional 21 shares during the last quarter. Finally, Hanson & Doremus Investment Management lifted its holdings in shares of Meta Platforms by 5.3% in the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.7 %

Shares of META stock traded down $3.93 during trading hours on Friday, reaching $528.00. The company had a trading volume of 11,304,691 shares, compared to its average volume of 16,221,447. The stock’s fifty day simple moving average is $502.96 and its 200 day simple moving average is $491.15. The company has a market capitalization of $1.34 trillion, a P/E ratio of 30.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. Meta Platforms, Inc. has a twelve month low of $276.03 and a twelve month high of $544.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter last year, the firm posted $3.23 earnings per share. The business’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analyst Weigh In

META has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer raised their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $476.69, for a total value of $431,404.45. Following the transaction, the insider now owns 42,370 shares in the company, valued at $20,197,355.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $476.69, for a total transaction of $431,404.45. Following the completion of the sale, the insider now owns 42,370 shares of the company’s stock, valued at $20,197,355.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The disclosure for this sale can be found here. Insiders sold a total of 418,680 shares of company stock valued at $211,992,147 in the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms 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.