Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,721 shares of the social networking company’s stock after purchasing an additional 110 shares during the quarter. Meta Platforms accounts for about 2.1% of Azzad Asset Management Inc. ADV’s investment portfolio, making the stock its 4th biggest holding. Azzad Asset Management Inc. ADV’s holdings in Meta Platforms were worth $18,317,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of META. S.A. Mason LLC raised its stake in shares of 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 worth $645,000 after purchasing an additional 20 shares during the last quarter. LongView Wealth Management lifted its stake in Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares in the last quarter. Madison Wealth Partners Inc boosted its holdings in Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after acquiring an additional 23 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in Meta Platforms by 1.9% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock worth $648,000 after acquiring an additional 23 shares during the last quarter. Finally, Monterey Private Wealth Inc. boosted its holdings in Meta Platforms by 1.8% during the 1st quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock worth $670,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on META. Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Barclays cut their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada cut their price objective on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $511.27.

Meta Platforms Trading Up 0.1 %

Shares of META opened at $509.96 on Thursday. The business’s 50-day moving average price is $481.05 and its 200-day moving average price is $458.42. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The stock has a market cap of $1.29 trillion, a PE ratio of 29.29, a P/E/G ratio of 1.32 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the transaction, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $516.51, for a total value of $253,089.90. Following the completion of the sale, the chief operating officer now directly owns 8,069 shares of the company’s stock, valued at approximately $4,167,719.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 252,395 shares of company stock valued at $123,781,816. 13.71% 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.