Baxter Bros Inc. Has $21.17 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Baxter Bros Inc. cut its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 36,731 shares of the social networking company's stock after selling 1,093 shares during the quarter. Meta Platforms accounts for 2.8% of Baxter Bros Inc.'s portfolio, making the stock its 9th largest position. Baxter Bros Inc.'s holdings in Meta Platforms were worth $21,170,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter worth $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter worth $47,000. Finally, Conquis Financial LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on META shares. JMP Securities reissued a "market outperform" rating and set a $750.00 price objective on shares of Meta Platforms in a research report on Wednesday, April 30th. Stifel Nicolaus lifted their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Oppenheimer lifted their price objective on Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. TD Securities reduced their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Citigroup lifted their price objective on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research 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 given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $702.48.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total transaction of $547,995.00. Following the transaction, the insider now owns 33,024 shares of the company's stock, valued at approximately $19,649,280. This represents a 2.71% 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 the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,135 shares of company stock valued at $34,481,779 in the last three months. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

NASDAQ META traded up $21.10 during trading on Wednesday, reaching $687.95. 14,007,287 shares of the company traded hands, compared to its average volume of 14,486,789. 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's 50 day moving average price is $581.05 and its two-hundred day moving average price is $612.48. The company has a market cap of $1.73 trillion, a price-to-earnings ratio of 28.76, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

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

Meta Platforms Dividend Announcement

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 issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is currently 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.