GuoLine Advisory Pte Ltd Purchases Shares of 51,000 Meta Platforms, Inc. (NASDAQ:META)

GuoLine Advisory Pte Ltd acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 51,000 shares of the social networking company's stock, valued at approximately $29,394,000. Meta Platforms comprises 3.1% of GuoLine Advisory Pte Ltd's portfolio, making the stock its 17th biggest position.

Other hedge funds have also made changes to their positions in the company. Global Financial Private Client LLC grew its stake in Meta Platforms by 3.4% during the 1st quarter. Global Financial Private Client LLC now owns 4,195 shares of the social networking company's stock worth $2,418,000 after buying an additional 136 shares during the last quarter. Welch Group LLC lifted its position in Meta Platforms by 0.3% during the 1st quarter. Welch Group LLC now owns 15,098 shares of the social networking company's stock worth $8,707,000 after acquiring an additional 48 shares during the period. Tompkins Financial Corp lifted its position in Meta Platforms by 8.0% during the 1st quarter. Tompkins Financial Corp now owns 595 shares of the social networking company's stock worth $343,000 after acquiring an additional 44 shares during the period. GoalVest Advisory LLC lifted its position in Meta Platforms by 88.6% during the 1st quarter. GoalVest Advisory LLC now owns 381 shares of the social networking company's stock worth $220,000 after acquiring an additional 179 shares during the period. Finally, GAMMA Investing LLC lifted its position in Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Activity

In other news, COO Javier Olivan sold 406 shares of Meta Platforms 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $635.41, for a total value of $329,777.79. Following the completion of the sale, the insider now directly owns 30,221 shares of the company's stock, valued at approximately $19,202,725.61. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,664 shares of company stock valued at $35,484,670 over the last quarter. Company insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Meta Platforms stock traded down $2.82 during mid-day trading on Friday, hitting $642.23. 16,230,863 shares of the company were exchanged, compared to its average volume of 14,491,179. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business's 50 day simple moving average is $578.56 and its two-hundred day simple moving average is $610.83. The company has a market capitalization of $1.61 trillion, a P/E ratio of 26.85, a PEG ratio of 1.42 and a beta of 1.24. 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 released 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%. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.71 earnings per share. Analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Analyst Ratings Changes

A number of research firms have weighed in on META. Tigress Financial reaffirmed a "strong-buy" rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Truist Financial increased their price objective on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. UBS Group increased their price objective on Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Raymond James decreased their price objective on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. Finally, Barclays reduced their price target on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company 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 issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $701.05.

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.