Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Radnor Capital Management LLC

Radnor Capital Management LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.5% during the 1st quarter, HoldingsChannel reports. The fund owned 1,620 shares of the social networking company’s stock after acquiring an additional 55 shares during the quarter. Radnor Capital Management LLC’s holdings in Meta Platforms were worth $934,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of META. Fjell Capital LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth about $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth about $325,000. Daner Wealth Management LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth about $334,000. Appleton Partners Inc. MA lifted its stake in shares of Meta Platforms by 3.7% in the fourth quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company’s stock worth $15,406,000 after acquiring an additional 951 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after buying an additional 570 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.9%

META opened at $697.71 on Friday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market cap of $1.75 trillion, a P/E ratio of 29.17, a P/E/G ratio of 1.42 and a beta of 1.26. The stock’s 50 day moving average price is $587.67 and its 200 day moving average price is $614.84.

Meta Platforms (NASDAQ:META) last issued its quarterly 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. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the company posted $4.71 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms’s payout ratio is currently 8.19%.

Wall Street Analysts Forecast Growth

META has been the topic of several research reports. Evercore ISI upped their price objective on Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on Meta Platforms from $675.00 to $735.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group upped their price objective on Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Truist Financial upped their price objective on Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Susquehanna cut their price objective on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $702.48.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $609.00, for a total transaction of $370,272.00. Following the completion of the transaction, the chief operating officer now directly owns 8,054 shares of the company’s stock, valued at approximately $4,904,886. This trade represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $671.00, for a total value of $348,249.00. Following the transaction, the insider now directly owns 29,702 shares of the company’s stock, valued at approximately $19,930,042. The trade was a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,171 shares of company stock valued at $35,163,457. 13.61% of the stock is owned by corporate insiders.

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.