Union Bancaire Privee UBP SA Has $108.13 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Union Bancaire Privee UBP SA decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,928 shares of the social networking company's stock after selling 3,749 shares during the quarter. Meta Platforms accounts for 2.5% of Union Bancaire Privee UBP SA's portfolio, making the stock its 10th largest position. Union Bancaire Privee UBP SA's holdings in Meta Platforms were worth $108,131,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $19,949,512,000. GAMMA Investing LLC lifted its stake in Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after purchasing an additional 23,417,803 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after buying an additional 6,240,810 shares during the period. Raymond James Financial Inc. bought a new position in shares of Meta Platforms during the fourth quarter valued at about $2,243,603,000. Finally, Northern Trust Corp increased its holdings in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after buying an additional 2,787,832 shares during the period. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Down 1.5%

Shares of NASDAQ META traded down $10.49 during trading on Friday, reaching $682.87. The company had a trading volume of 9,259,272 shares, compared to its average volume of 14,501,070. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. 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 business's 50-day moving average is $600.62 and its 200 day moving average is $618.50. The stock has a market cap of $1.72 trillion, a PE ratio of 28.55, a P/E/G ratio of 1.42 and a beta of 1.26.

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

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, May 15th. The stock was 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 in the company, valued at approximately $10,855,043.68. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 406 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction 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 represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,201 shares of company stock valued at $56,377,837 over the last 90 days. Corporate insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on META shares. Piper Sandler increased their target price on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Morgan Stanley increased their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Benchmark decreased their target price on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $676.00 price target on shares of Meta Platforms in a report on Wednesday. Finally, Truist Financial raised their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $704.26.

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.