Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by BNP Paribas

BNP Paribas increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 17.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,127 shares of the social networking company’s stock after purchasing an additional 11,546 shares during the quarter. Meta Platforms accounts for about 1.9% of BNP Paribas’ investment portfolio, making the stock its 12th largest holding. BNP Paribas’ holdings in Meta Platforms were worth $45,327,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Millstone Evans Group LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $40,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $41,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms in the 4th quarter worth approximately $45,000. Finally, Cordant Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group decreased their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday. Morgan Stanley increased their price target on Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $696.45.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $545.17, for a total transaction of $502,101.57. Following the completion of the transaction, the insider now owns 26,577 shares in the company, valued at approximately $14,488,983.09. This trade represents a 3.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $676.00, for a total transaction of $279,188.00. Following the completion of the transaction, the chief operating officer now directly owns 15,449 shares in the company, valued at $10,443,524. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,017 shares of company stock valued at $167,207,524. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 4.3 %

NASDAQ:META opened at $597.02 on Friday. The stock has a market cap of $1.51 trillion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The business has a fifty day moving average of $575.29 and a 200-day moving average of $603.80.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 EPS. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. Equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s dividend payout ratio is 8.19%.

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.