Fedenia Advisers LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Fedenia Advisers LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 34.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,675 shares of the social networking company's stock after purchasing an additional 427 shares during the period. Fedenia Advisers LLC's holdings in Meta Platforms were worth $965,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Valley Financial Group Inc. increased its stake in Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC lifted its stake in Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after purchasing an additional 14 shares in the last quarter. Maiden Cove Capital LLC boosted its holdings in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after purchasing an additional 15 shares during the last quarter. Riverwater Partners LLC increased its holdings in shares of Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after purchasing an additional 15 shares during the last quarter. Finally, ABLE Financial Group LLC lifted its position in Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on META shares. Robert W. Baird raised their price objective on shares of Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. TD Securities lowered their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. UBS Group reaffirmed a "buy" rating and issued a $812.00 price target (up previously from $683.00) on shares of Meta Platforms in a research note on Thursday, June 26th. Monness Crespi & Hardt raised their price objective on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, KeyCorp upped their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $719.29.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $6.08 during mid-day trading on Monday, hitting $725.09. 2,495,588 shares of the company were exchanged, compared to its average volume of 14,498,155. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.82 trillion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The stock has a 50 day simple moving average of $658.89 and a 200-day simple moving average of $630.28. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90.

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

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total transaction of $382,503.00. Following the transaction, the insider directly owned 27,626 shares in the company, valued at $20,360,362. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,677 shares of company stock valued at $105,221,340. 13.61% of the stock is owned by corporate insiders.

About Meta Platforms

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.