Burns J W & Co. Inc. NY Has $8.28 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META) (2024)

Burns J W & Co. Inc. NY lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,041 shares of the social networking company’s stock after selling 555 shares during the quarter. Meta Platforms makes up about 1.2% of Burns J W & Co. Inc. NY’s investment portfolio, making the stock its 24th largest position. Burns J W & Co. Inc. NY’s holdings in Meta Platforms were worth $8,275,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in META. S.A. Mason LLC raised its position in Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares in the last quarter. LongView Wealth Management raised its holdings in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares in the last quarter. Madison Wealth Partners Inc lifted its position in shares of 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 buying an additional 23 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its stake in Meta Platforms by 1.9% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock valued at $648,000 after buying an additional 23 shares in the last quarter. Finally, Monterey Private Wealth Inc. grew its position in Meta Platforms by 1.8% in the first quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock valued at $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 equities research analysts have recently weighed in on the stock. Benchmark restated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Truist Financial cut their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Loop Capital lowered their price target on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $510.05.

Meta Platforms Stock Down 3.0 %

Meta Platforms stock opened at $504.22 on Friday. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. The firm’s fifty day moving average price is $480.00 and its two-hundred day moving average price is $454.77. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. 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 (NASDAQ:META – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 31,465 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $491.49, for a total value of $15,464,732.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 31,465 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $491.49, for a total value of $15,464,732.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,512 shares of company stock worth $113,597,536. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

(Free Report)

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.