Inscription Capital LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,612 shares of the social networking company's stock, valued at approximately $3,235,000.
Several other hedge funds also recently made changes to their positions in META. Valley Financial Group Inc. increased its position in Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC increased its position in Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after acquiring an additional 14 shares during the period. Meredith Wealth Planning increased its position in Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after acquiring an additional 15 shares during the period. Maiden Cove Capital LLC increased its position in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after acquiring an additional 15 shares during the period. Finally, Riverwater Partners LLC increased its position in Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Price Performance
NASDAQ META traded down $11.68 on Friday, hitting $684.09. 10,469,281 shares of the company were exchanged, compared to its average volume of 14,487,477. The company has a market cap of $1.72 trillion, a P/E ratio of 26.67, a P/E/G ratio of 1.71 and a beta of 1.26. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $615.32 and a two-hundred day moving average of $622.60.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.71 EPS. On average, equities analysts predict 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. Shareholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms's dividend payout ratio is currently 8.19%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on META shares. Wedbush boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Oppenheimer boosted their target price on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday. KeyCorp boosted their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Moffett Nathanson lifted their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Susquehanna decreased their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $710.00.
Get Our Latest Report on Meta Platforms
Insiders Place Their Bets
In other news, COO Javier Olivan sold 406 shares of the company's stock in a transaction dated 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 directly owns 4,608 shares of the company's stock, valued at $2,265,707.52. This represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 1,462 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the completion of the sale, the chief executive officer now directly owns 139,538 shares of the company's stock, valued at approximately $97,834,277.94. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 110,512 shares of company stock valued at $73,590,232. 13.61% of the stock is currently owned by insiders.
About Meta Platforms
(
Free Report)
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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