Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Capital Management Associates Inc

Capital Management Associates Inc boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 98.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,068 shares of the social networking company's stock after buying an additional 1,524 shares during the quarter. Capital Management Associates Inc's holdings in Meta Platforms were worth $1,768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Suvretta Capital Management LLC lifted its position in shares of Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after purchasing an additional 1,850 shares during the last quarter. Skye Global Management LP lifted its position in shares of Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after purchasing an additional 43,200 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Meta Platforms by 255.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after purchasing an additional 1,229,350 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Meta Platforms by 25.1% in the fourth quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock valued at $215,760,000 after acquiring an additional 73,907 shares in the last quarter. Finally, Arcadia Wealth Management Inc. bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $600,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares of the company's stock, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value 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 approximately $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,792 shares of company stock valued at $105,466,325 in the last three months. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

NASDAQ:META traded down $9.73 during trading hours on Friday, reaching $717.51. The company had a trading volume of 10,855,962 shares, compared to its average volume of 14,480,953. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The firm has a market cap of $1.80 trillion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.78 and a beta of 1.28. The business's 50 day moving average price is $674.77 and its 200-day moving average price is $634.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the company posted $4.71 earnings per share. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts forecast 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 was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. 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 payout ratio is 8.19%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on META shares. Piper Sandler restated an "overweight" rating and issued a $808.00 price objective (up from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. TD Securities decreased their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Needham & Company LLC upgraded Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday, July 3rd. Morgan Stanley lifted their target price on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Jefferies Financial Group cut their target price on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $729.38.

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.