Hudson Valley Investment Advisors Inc. ADV Has $11.87 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Hudson Valley Investment Advisors Inc. ADV raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 49.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 20,599 shares of the social networking company's stock after purchasing an additional 6,789 shares during the period. Meta Platforms accounts for approximately 1.4% of Hudson Valley Investment Advisors Inc. ADV's portfolio, making the stock its 19th largest position. Hudson Valley Investment Advisors Inc. ADV's holdings in Meta Platforms were worth $11,872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. Millstone Evans Group LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms during the 4th quarter valued at $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms during the 4th quarter valued at $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on META. Raymond James dropped their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a report on Thursday, May 1st. Tigress Financial reiterated a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. TD Securities dropped their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Evercore ISI upped their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, Morgan Stanley upped their price target on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $702.48.

Meta Platforms Price Performance

META opened at $697.71 on Friday. The company has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $587.67 and a 200-day moving average price of $614.84. 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 released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $41.45 billion. During the same period in the previous year, the business earned $4.71 EPS. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. Equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Transactions at Meta Platforms

In related 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 value of $348,249.00. Following the transaction, the insider now owns 29,702 shares of the company's stock, valued at $19,930,042. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 406 shares of the stock in a transaction dated Monday, April 21st. The shares were 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 in the company, valued at $2,265,707.52. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,171 shares of company stock valued at $35,163,457. 13.61% of the stock is currently owned by company 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.

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