Connective Portfolio Management LLC Makes New $1.38 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Connective Portfolio Management LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,400 shares of the social networking company's stock, valued at approximately $1,383,000. Meta Platforms accounts for 4.7% of Connective Portfolio Management LLC's investment portfolio, making the stock its 8th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Vanguard Group Inc. lifted its position in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC grew its position in Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after buying an additional 1,049,121 shares during the last quarter. Capital World Investors lifted its position in Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after buying an additional 1,141,355 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter worth about $19,949,512,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $701.99, for a total transaction of $364,332.81. Following the sale, the insider now owns 28,664 shares of the company's stock, valued at $20,121,841.36. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 500 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $700.38, for a total value of $350,190.00. Following the sale, the chief executive officer now owns 85,119 shares in the company, valued at $59,615,645.22. This represents a 0.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,002 shares of company stock valued at $73,353,340. Corporate insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

META has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Jefferies Financial Group cut their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Truist Financial boosted their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $712.69.

Meta Platforms Price Performance

META traded up $13.67 on Tuesday, hitting $712.20. 13,806,658 shares of the stock were exchanged, compared to its average volume of 14,499,646. The firm has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.72 and a beta of 1.26. 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 $740.91. The business has a 50-day moving average of $625.25 and a two-hundred day moving average of $624.38.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data 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 net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the firm posted $4.71 earnings per share. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's payout ratio is 8.19%.

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.