AlphaStar Capital Management LLC Has $7.11 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

AlphaStar Capital Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,336 shares of the social networking company's stock after purchasing an additional 1,033 shares during the quarter. Meta Platforms comprises 0.8% of AlphaStar Capital Management LLC's portfolio, making the stock its 23rd biggest holding. AlphaStar Capital Management LLC's holdings in Meta Platforms were worth $7,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Meta Platforms by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after buying an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares in the last quarter. Capital World Investors boosted its holdings in Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after purchasing an additional 1,141,355 shares in the last quarter. Finally, Norges Bank acquired a new stake in Meta Platforms during the fourth quarter valued at approximately $19,949,512,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, the chief executive officer directly owned 118,279 shares of the company's stock, valued at $82,928,955.27. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 153,792 shares of company stock valued at $105,466,325 in the last quarter. Company insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on META shares. Bank of America lifted their price objective on Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a report on Thursday. Citigroup lifted their price objective on Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $735.00 to $795.00 and gave the company an "overweight" rating in a report on Friday. TD Securities decreased their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Stifel Nicolaus lifted their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $729.38.

Meta Platforms Trading Down 1.3%

META traded down $9.73 during trading on Friday, reaching $717.51. 10,855,962 shares of the company's stock were exchanged, compared to its average volume of 14,460,014. The company's fifty day moving average price is $674.77 and its 200-day moving average price is $634.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The firm has a market capitalization of $1.80 trillion, a PE ratio of 27.98, a P/E/G ratio of 1.76 and a beta of 1.28.

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

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) 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.