Conway Capital Management Inc. Has $4.91 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Conway Capital Management Inc. lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,524 shares of the social networking company's stock after purchasing an additional 1,665 shares during the quarter. Meta Platforms accounts for approximately 2.5% of Conway Capital Management Inc.'s investment portfolio, making the stock its 9th biggest holding. Conway Capital Management Inc.'s holdings in Meta Platforms were worth $4,913,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fjell Capital LLC bought a new position in shares of Meta Platforms in the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC bought a new position in Meta Platforms during the fourth quarter worth about $325,000. Daner Wealth Management LLC acquired a new position in Meta Platforms during the fourth quarter worth approximately $334,000. Brighton Jones LLC raised its stake in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after buying an additional 570 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Meta Platforms in the fourth quarter valued at approximately $112,406,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Price Performance

META stock traded down $13.42 during trading on Friday, reaching $682.35. 20,871,056 shares of the company were exchanged, compared to its average volume of 14,532,565. The company has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 1.71 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. The company has a 50-day moving average of $615.32 and a two-hundred day moving average of $622.60. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

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, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. 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 prior year, the business earned $4.71 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. Meta Platforms's payout ratio is presently 8.19%.

Analysts Set New Price Targets

Several research analysts have recently commented on META shares. Raymond James Financial reduced their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research note on Thursday, May 1st. Guggenheim lifted their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Barclays decreased their price objective on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Citigroup restated a "buy" rating on shares of Meta Platforms in a research note on Thursday, June 12th. Finally, Wedbush lifted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. One research 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. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average price target of $710.00.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares of the company's stock, valued at $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 8,312 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $702.13, for a total value of $5,836,104.56. Following the completion of the sale, the chief executive officer now owns 88,372 shares of the company's stock, valued at $62,048,632.36. The trade was a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,512 shares of company stock worth $73,590,232. 13.61% of the stock is currently owned by insiders.

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.