Fulcrum Capital LLC Purchases Shares of 569 Meta Platforms, Inc. (NASDAQ:META)

Fulcrum Capital 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 (SEC). The fund bought 569 shares of the social networking company's stock, valued at approximately $328,000.

A number of other institutional investors also recently modified their holdings of META. Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the fourth quarter worth about $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms in the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth about $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth about $47,000. Finally, Conquis Financial LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth approximately $59,000. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

META has been the subject of a number of recent research reports. Pivotal Research dropped their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. UBS Group boosted their price target on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Raymond James dropped their price target on shares of 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. Loop Capital boosted their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Barclays dropped their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Meta Platforms Stock Down 0.4%

Shares of Meta Platforms stock traded down $2.82 on Friday, hitting $642.23. The company had a trading volume of 16,230,863 shares, compared to its average volume of 14,482,228. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The stock has a 50-day moving average of $578.56 and a 200-day moving average of $611.04. The firm has a market capitalization of $1.61 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its 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 net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the company posted $4.71 earnings per share. The firm's revenue was up 16.1% on a year-over-year basis. Research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Insider Buying and Selling

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the transaction, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $491.87, for a total transaction of $453,012.27. Following the transaction, the insider now owns 27,498 shares of the company's stock, valued at $13,525,441.26. The trade was a 3.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,664 shares of company stock worth $35,484,670. 13.61% of the stock is 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.