Altrafin AG Acquires Shares of 6,002 Meta Platforms, Inc. $META

Altrafin AG acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,002 shares of the social networking company's stock, valued at approximately $3,962,000. Meta Platforms comprises about 1.3% of Altrafin AG's portfolio, making the stock its 21st biggest holding.

A number of other hedge funds have also bought and sold shares of the company. Keybank National Association OH raised its position in shares of Meta Platforms by 15.7% during the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company's stock worth $88,319,000 after buying an additional 18,169 shares in the last quarter. Becker Capital Management Inc. raised its position in shares of Meta Platforms by 5.0% during the 3rd quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company's stock worth $25,741,000 after buying an additional 1,657 shares in the last quarter. Diversified Trust Co. raised its position in shares of Meta Platforms by 4.1% during the 4th quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company's stock worth $55,487,000 after buying an additional 3,336 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its position in shares of Meta Platforms by 16.2% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company's stock worth $5,091,000 after buying an additional 968 shares in the last quarter. Finally, Consolidated Investment Group LLC raised its position in shares of Meta Platforms by 61.2% during the 4th quarter. Consolidated Investment Group LLC now owns 7,900 shares of the social networking company's stock worth $5,215,000 after buying an additional 3,000 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Meta Platforms stock opened at $566.98 on Friday. The firm's 50 day simple moving average is $621.15 and its 200-day simple moving average is $635.89. The company has a market cap of $1.43 trillion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm's quarterly revenue was up 33.1% compared to the same quarter last year. During the same period last year, the firm posted $6.43 earnings per share. As a group, equities research analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms's dividend payout ratio (DPR) is 7.63%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on META shares. Sanford C. Bernstein lowered their price objective on shares of Meta Platforms from $900.00 to $850.00 and set an "outperform" rating on the stock in a research note on Thursday, April 30th. UBS Group cut shares of Meta Platforms from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 2nd. Stifel Nicolaus lowered their price objective on shares of Meta Platforms from $805.00 to $780.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Piper Sandler started coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They issued an "overweight" rating on the stock. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $1,015.00 price objective on shares of Meta Platforms in a research note on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $840.60.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
• Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
• Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.

Insider Activity

In other news, COO Javier Olivan sold 2,778 shares of Meta Platforms stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $629.45, for a total value of $1,748,612.10. Following the transaction, the chief operating officer directly owned 10,557 shares of the company's stock, valued at $6,645,103.65. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the completion of the transaction, the insider directly owned 1,118 shares in the company, valued at approximately $681,890.56. This trade represents a 65.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 41,305 shares of company stock valued at $25,567,928. 13.53% of the stock is currently owned by insiders.

About Meta Platforms

Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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