Little House Capital LLC Trims Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Little House Capital LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,957 shares of the social networking company's stock after selling 1,334 shares during the period. Meta Platforms makes up approximately 2.4% of Little House Capital LLC's holdings, making the stock its 10th biggest position. Little House Capital LLC's holdings in Meta Platforms were worth $8,621,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms in the 1st quarter worth $25,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $45,000. Finally, JCIC Asset Management Inc. increased its holdings in Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after buying an additional 40 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, the chief executive officer owned 118,279 shares in the company, valued at approximately $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,285 shares of company stock worth $105,518,153 in the last three months. 13.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on META shares. Evercore ISI upped their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Oppenheimer boosted their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a report on Monday, June 16th. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Cantor Fitzgerald lifted their target price on shares of Meta Platforms from $676.00 to $807.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $719.29.

Meta Platforms Price Performance

Meta Platforms stock traded up $3.34 during mid-day trading on Thursday, hitting $716.91. The stock had a trading volume of 8,601,653 shares, compared to its average volume of 14,572,054. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. 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 market capitalization of $1.80 trillion, a P/E ratio of 27.96, a P/E/G ratio of 1.75 and a beta of 1.28. The firm's 50 day moving average is $651.82 and its 200 day moving average is $628.50.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business's revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.71 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio is presently 8.19%.

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.