Childress Capital Advisors LLC Has $4.28 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Childress Capital Advisors LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,420 shares of the social networking company's stock after selling 660 shares during the period. Meta Platforms accounts for about 1.2% of Childress Capital Advisors LLC's portfolio, making the stock its 16th biggest holding. Childress Capital Advisors LLC's holdings in Meta Platforms were worth $4,277,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Buck Wealth Strategies LLC lifted its position in shares of Meta Platforms by 142.6% in the first quarter. Buck Wealth Strategies LLC now owns 883 shares of the social networking company's stock valued at $509,000 after buying an additional 519 shares during the last quarter. Shum Financial Group Inc. acquired a new stake in shares of Meta Platforms in the first quarter valued at approximately $204,000. Heartland Bank & Trust Co lifted its position in shares of Meta Platforms by 18.0% in the first quarter. Heartland Bank & Trust Co now owns 7,373 shares of the social networking company's stock valued at $4,250,000 after buying an additional 1,125 shares during the last quarter. Cyr Financial Inc. lifted its position in shares of Meta Platforms by 4.8% in the first quarter. Cyr Financial Inc. now owns 1,082 shares of the social networking company's stock valued at $624,000 after buying an additional 50 shares during the last quarter. Finally, Masso Torrence Wealth Management Inc. lifted its position in shares of Meta Platforms by 28.7% in the first quarter. Masso Torrence Wealth Management Inc. now owns 2,061 shares of the social networking company's stock valued at $1,188,000 after buying an additional 460 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on META. Guggenheim raised their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. DA Davidson dropped their price target on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Rosenblatt Securities lifted their price target on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank Of Canada reissued an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a report on Thursday, May 1st. Finally, Barclays dropped their price target on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $712.69.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $543.39, for a total transaction of $500,462.19. Following the transaction, the insider now directly owns 29,340 shares of the company's stock, valued at approximately $15,943,062.60. The trade was a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the transaction, the chief operating officer now directly owns 4,608 shares in the company, valued at $2,265,707.52. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,002 shares of company stock worth $73,353,340 in the last 90 days. Insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

META stock traded up $13.67 during midday trading on Tuesday, reaching $712.20. 13,806,658 shares of the stock were exchanged, compared to its average volume of 14,499,652. The stock has a market capitalization of $1.79 trillion, a PE ratio of 27.78, a P/E/G ratio of 1.72 and a beta of 1.26. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a fifty day moving average price of $625.25 and a 200 day moving average price of $624.38.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.71 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend 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.