Mmbg Investment Advisors CO. Purchases 1,221 Shares of Meta Platforms, Inc. $META

Mmbg Investment Advisors CO. grew its position in Meta Platforms, Inc. (NASDAQ:META) by 1.5% during the 4th quarter, Holdings Channel reports. The firm owned 82,470 shares of the social networking company’s stock after purchasing an additional 1,221 shares during the quarter. Meta Platforms makes up about 4.6% of Mmbg Investment Advisors CO.’s investment portfolio, making the stock its 6th biggest position. Mmbg Investment Advisors CO.’s holdings in Meta Platforms were worth $54,438,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Westchester Capital Management Inc. acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at $26,000. RHL Group LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at about $29,000. Key Capital Management INC bought a new position in shares of Meta Platforms in the fourth quarter valued at about $48,000. Finally, Entrust Financial LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on Meta Platforms in a report on Tuesday. They issued an “overweight” rating for the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $900.00 price target on shares of Meta Platforms in a report on Tuesday, April 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $810.00 price target on shares of Meta Platforms in a report on Monday. Erste Group Bank cut Meta Platforms from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Bank of America cut their price target on Meta Platforms from $885.00 to $820.00 and set a “buy” rating for the company in a report on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $840.60.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 9,195 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the sale, the chief financial officer directly owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. The trade was a 41.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Robert M. Kimmitt sold 504 shares of the business’s stock in a transaction dated 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 $2,481,290.47. This represents a 11.33% 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. In the last three months, insiders sold 42,860 shares of company stock worth $26,555,260. Corporate insiders own 13.53% of the company’s stock.

More Meta Platforms News

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

• Positive Sentiment: Meta launched a new Meta Business Agent for WhatsApp, Messenger, and Instagram, targeting enterprise customers and giving investors a potential new revenue stream beyond advertising. Reuters article
• Positive Sentiment: Meta won a partial legal victory in Europe over the EU’s treatment of Marketplace under tech rules, easing one regulatory overhang. Reuters article
• Positive Sentiment: Analysts remain constructive overall, with at least one recent upgrade to strong-buy and multiple bullish price targets tied to Meta’s commerce and AI initiatives. Finviz reference

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $627.57 on Friday. The stock has a market capitalization of $1.59 trillion, a P/E ratio of 22.81, a P/E/G ratio of 1.10 and a beta of 1.23. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $618.87 and a two-hundred day moving average price of $636.87.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion during 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 company’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the business posted $6.43 EPS. Equities analysts predict that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s payout ratio is currently 7.63%.

Meta Platforms Company Profile

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.