Bank of New Hampshire Raises Stake in Meta Platforms, Inc. (NASDAQ:META)

Bank of New Hampshire boosted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 242.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,446 shares of the social networking company's stock after buying an additional 2,439 shares during the quarter. Bank of New Hampshire's holdings in Meta Platforms were worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC boosted its stake in shares of Meta Platforms by 53.6% during the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Activity

In related news, Director Robert M. Kimmitt sold 475 shares of Meta Platforms stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $298,418.75. Following the completion of the sale, the director now directly owns 10,272 shares in the company, valued at approximately $6,453,384. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $609.00, for a total value of $370,272.00. Following the completion of the sale, the chief operating officer now owns 8,054 shares of the company's stock, valued at $4,904,886. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,171 shares of company stock worth $35,163,457 over the last three months. 13.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

META has been the subject of a number of analyst reports. Jefferies Financial Group dropped their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Guggenheim increased their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. The Goldman Sachs Group increased their price objective on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Benchmark dropped their price objective on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Pivotal Research decreased their target price on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $702.48.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $697.71 on Friday. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business has a fifty day moving average price of $587.67 and a 200-day moving average price of $615.18. The company has a market capitalization of $1.75 trillion, a PE ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26.

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

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's payout ratio is presently 8.19%.

Meta Platforms 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.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.