Colonial River Investments LLC Acquires 4,028 Shares of Meta Platforms, Inc. (NASDAQ:META)

Colonial River Investments LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 132.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,060 shares of the social networking company's stock after purchasing an additional 4,028 shares during the period. Meta Platforms accounts for 2.2% of Colonial River Investments LLC's holdings, making the stock its 8th biggest holding. Colonial River Investments LLC's holdings in Meta Platforms were worth $4,069,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of META. Fjell Capital LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $325,000. Daner Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at $334,000. Brighton Jones LLC boosted its position in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Finally, Revolve Wealth Partners LLC boosted its position in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $704.89, for a total value of $365,837.91. Following the completion of the sale, the insider owned 28,145 shares of the company's stock, valued at approximately $19,839,129.05. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $730.47, for a total transaction of $10,075,372.71. Following the transaction, the chief executive officer directly owned 29,947 shares in the company, valued at approximately $21,875,385.09. The trade was a 31.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,095 shares of company stock worth $93,076,345. Company insiders own 13.61% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Raymond James Financial reduced their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and set a $750.00 price objective on shares of Meta Platforms in a report on Wednesday, April 30th. TD Securities decreased their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Oppenheimer boosted their target price on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Finally, Guggenheim upped their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and an average target price of $719.29.

Meta Platforms Price Performance

Meta Platforms stock traded down $5.65 during midday trading on Wednesday, reaching $713.57. The company had a trading volume of 9,315,187 shares, compared to its average volume of 14,534,414. 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, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90. The company has a market capitalization of $1.79 trillion, a P/E ratio of 27.83, a P/E/G ratio of 1.81 and a beta of 1.28. The firm's fifty day simple moving average is $647.96 and its 200-day simple moving average is $627.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its 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. The business 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 38.69% and a net margin of 39.11%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.71 earnings per share. As a group, equities 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 was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) 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.