111 Capital Invests $7.89 Million in Meta Platforms, Inc. (NASDAQ:META)

111 Capital bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,475 shares of the social networking company's stock, valued at approximately $7,890,000. Meta Platforms accounts for about 1.7% of 111 Capital's holdings, making the stock its 10th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in Meta Platforms during the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms during the 4th quarter valued at about $45,000. Stuart Chaussee & Associates Inc. bought a new position in Meta Platforms during the 4th quarter valued at about $47,000. Finally, Conquis Financial LLC bought a new position in Meta Platforms during the 4th quarter valued at about $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.2%

NASDAQ META traded up $1.47 on Thursday, hitting $645.05. 8,853,767 shares of the stock were exchanged, compared to its average volume of 14,469,198. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a fifty day moving average price of $577.74 and a two-hundred day moving average price of $610.01. The firm has a market capitalization of $1.62 trillion, a P/E ratio of 26.97, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.71 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.33%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on META shares. Argus set a $775.00 target price on shares of Meta Platforms in a research note on Tuesday, February 4th. Bank of America increased their price objective on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Morgan Stanley increased their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Cantor Fitzgerald increased their price objective on shares of Meta Platforms from $624.00 to $676.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, Truist Financial increased their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating 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 issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total value of $329,824.50. Following the completion of the sale, the insider now directly owns 30,740 shares in the company, valued at $19,535,270. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares of the company's stock, valued at $2,265,707.52. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,628 shares of company stock worth $34,826,386. 13.61% of the stock is currently owned by insiders.

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.