Pittenger & Anderson Inc. Has $10.64 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Pittenger & Anderson Inc. lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 400.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,070 shares of the social networking company’s stock after purchasing an additional 24,065 shares during the period. Pittenger & Anderson Inc.’s holdings in Meta Platforms were worth $10,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Stone House Investment Management LLC lifted its stake in shares of Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Gilfoyle & Co LLC bought a new position in Meta Platforms in the 4th quarter worth $39,000. Cranbrook Wealth Management LLC raised its holdings in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the period. Finally, PayPay Securities Corp raised its holdings in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.0 %

META traded up $0.07 during trading hours on Friday, hitting $441.45. 24,576,922 shares of the company’s stock were exchanged, compared to its average volume of 18,276,223. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49. The stock’s 50-day moving average is $495.08 and its two-hundred day moving average is $403.40. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.26 and a beta of 1.20. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.37%. Sell-side analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value 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 legal filing with the SEC, which is available through this link. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $517.75, for a total transaction of $253,697.50. Following the sale, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total transaction of $287,381.25. Following the completion of the sale, the insider now directly owns 37,228 shares in the company, valued at $18,288,255. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,349,148 shares of company stock valued at $649,552,559. 13.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. KeyCorp dropped their target price on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a report on Monday. Canaccord Genuity Group dropped their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America boosted their price objective on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft dropped 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. Finally, Royal Bank of Canada dropped 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

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.