Curat Global LLC Invests $496,000 in Meta Platforms, Inc. (NASDAQ:META)

Curat Global LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 861 shares of the social networking company's stock, valued at approximately $496,000.

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

Meta Platforms Stock Performance

NASDAQ:META traded up $13.09 during trading on Friday, reaching $697.71. The company's stock had a trading volume of 11,707,462 shares, compared to its average volume of 14,510,579. The firm has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a 50 day moving average of $585.44 and a 200-day moving average of $613.90. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.71 EPS. Research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company 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 dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's payout ratio is 8.19%.

Analysts Set New Price Targets

META has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research report on Wednesday. KeyCorp upped their target price on Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Monness Crespi & Hardt upped their target price on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research 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 given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $702.48.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total transaction of $348,249.00. Following the completion of the transaction, the insider now owns 29,702 shares in the company, valued at approximately $19,930,042. This represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 406 shares of the stock in a transaction on 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 owns 4,608 shares of the company's stock, valued at $2,265,707.52. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,171 shares of company stock worth $35,163,457. 13.61% of the stock is owned by company insiders.

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.