Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Cavalier Investments LLC

Cavalier Investments LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1,476.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,207 shares of the social networking company's stock after purchasing an additional 19,862 shares during the quarter. Meta Platforms makes up 4.2% of Cavalier Investments LLC's portfolio, making the stock its 5th biggest position. Cavalier Investments LLC's holdings in Meta Platforms were worth $12,223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fjell Capital LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $325,000. Daner Wealth Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $334,000. Brighton Jones LLC grew its position in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after buying an additional 570 shares during the period. Finally, Revolve Wealth Partners LLC grew its position in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after buying an additional 875 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

META stock traded down $18.87 during midday trading on Tuesday, reaching $719.22. The stock had a trading volume of 13,399,510 shares, compared to its average volume of 14,538,360. The stock has a market cap of $1.81 trillion, a PE ratio of 28.05, a P/E/G ratio of 1.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a fifty day simple moving average of $643.58 and a two-hundred day simple moving average of $627.27. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the previous year, the firm posted $4.71 EPS. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $704.89, for a total transaction of $365,837.91. Following the completion of the transaction, the insider owned 28,145 shares in the company, valued at approximately $19,839,129.05. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $699.27, for a total value of $325,160.55. Following the transaction, the director directly owned 9,807 shares in the company, valued at approximately $6,857,740.89. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,095 shares of company stock worth $93,076,345 in the last ninety days. 13.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

META has been the subject of several research analyst reports. Oppenheimer boosted their price objective on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. JMP Securities reiterated a "market outperform" rating and issued a $750.00 price objective on shares of Meta Platforms in a research report on Wednesday, April 30th. Loop Capital boosted their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. 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 research report on Thursday, May 1st. Finally, KeyCorp boosted their price objective on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $719.52.

About Meta Platforms

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.