Meta Platforms, Inc. (NASDAQ:META) is Jacobs & Co. CA's 5th Largest Position

Jacobs & Co. CA lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,250 shares of the social networking company's stock after selling 2,310 shares during the period. Meta Platforms makes up about 3.0% of Jacobs & Co. CA's investment portfolio, making the stock its 5th largest holding. Jacobs & Co. CA's holdings in Meta Platforms were worth $27,809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Millstone Evans Group LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms in the fourth quarter worth $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms during the fourth quarter valued at $47,000. Finally, Conquis Financial LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $673.96, for a total transaction of $409,767.68. Following the sale, the chief operating officer now directly owns 8,662 shares of the company's stock, valued at $5,837,841.52. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at $10,855,043.68. The trade was a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,664 shares of company stock worth $35,484,670. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

NASDAQ META traded down $2.82 during trading on Friday, hitting $642.23. 16,230,863 shares of the stock traded hands, compared to its average volume of 14,482,228. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The firm has a 50-day simple moving average of $578.56 and a 200-day simple moving average of $611.28. The company has a market capitalization of $1.61 trillion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the company earned $4.71 EPS. The company's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on META. Rosenblatt Securities upped their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Scotiabank lowered their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research report on Monday, April 21st. Oppenheimer raised their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Susquehanna decreased their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Finally, KeyCorp raised their price target on Meta Platforms from $645.00 to $655.00 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $701.05.

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.