373 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Ndwm LLC

Ndwm LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 373 shares of the social networking company's stock, valued at approximately $215,000.

Several other hedge funds have also added to or reduced their stakes in the company. Inlight Wealth Management LLC acquired a new position in Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Meta Platforms during the 1st quarter worth $28,000. Millstone Evans Group LLC bought a new stake in Meta Platforms during the 4th quarter worth $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $45,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $717.50, for a total transaction of $370,947.50. Following the sale, the chief operating officer owned 6,819 shares in the company, valued at $4,892,632.50. This trade represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $723.08, for a total value of $375,278.52. Following the transaction, the insider directly owned 26,588 shares in the company, valued at $19,225,251.04. This trade represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,764 shares of company stock worth $105,721,208. Company insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $828.00 price target (up previously from $807.00) on shares of Meta Platforms in a research report on Wednesday. Loop Capital upped their price target on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. The Goldman Sachs Group increased their price objective on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Bank of America upped their target price on Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $736.05.

Meta Platforms Price Performance

Shares of META stock traded up $2.87 on Friday, reaching $704.28. The company's stock had a trading volume of 12,743,944 shares, compared to its average volume of 14,336,421. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90. The company has a market capitalization of $1.77 trillion, a P/E ratio of 27.47, a PEG ratio of 1.72 and a beta of 1.28. The stock's 50 day simple moving average is $686.09 and its 200-day simple moving average is $638.34.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the business posted $4.71 earnings per share. The firm's revenue was up 16.1% compared to the same quarter last year. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

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.