Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.5% during the 4th quarter, Holdings Channel reports. The firm owned 3,830 shares of the social networking company’s stock after buying an additional 166 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Meta Platforms were worth $1,356,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in META. Vanguard Group Inc. raised its holdings in Meta Platforms by 1.0% in the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after acquiring an additional 1,733,182 shares in the last quarter. FMR LLC raised its holdings in Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after acquiring an additional 5,001,647 shares in the last quarter. Morgan Stanley raised its holdings in Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after acquiring an additional 1,184,978 shares in the last quarter. Northern Trust Corp raised its holdings in Meta Platforms by 4.3% in the third quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after acquiring an additional 946,871 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock valued at $3,945,799,000 after acquiring an additional 111,735 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.8 %

META traded up $3.40 during midday trading on Tuesday, hitting $436.02. The company’s stock had a trading volume of 4,548,036 shares, compared to its average volume of 18,256,715. 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, Inc. has a 52-week low of $229.85 and a 52-week high of $531.49. The firm has a market cap of $1.11 trillion, a P/E ratio of 24.85, a PEG ratio of 1.15 and a beta of 1.20. The firm has a 50-day moving average price of $493.66 and a two-hundred day moving average price of $406.15.

Meta Platforms (NASDAQ:META) last issued 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 return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. On average, research analysts anticipate that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.46%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Upgrades and Downgrades

Several brokerages have commented on META. KeyCorp dropped their price target on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Guggenheim lowered their target price on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Morgan Stanley raised their target price on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Evercore ISI raised their target price on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Monness Crespi & Hardt lifted their price objective on shares of Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $509.18.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the transaction, the insider now directly owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the completion of the transaction, the insider now directly owns 37,228 shares in the company, valued at approximately $18,288,255. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total value of $7,751,361.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,276,482 shares of company stock valued at $620,451,095. Corporate insiders own 13.71% of the company’s stock.

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.