Meta Platforms, Inc. (NASDAQ:META) is Tealwood Asset Management Inc.'s 5th Largest Position

Tealwood Asset Management Inc. lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 32.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,228 shares of the social networking company's stock after selling 2,471 shares during the period. Meta Platforms accounts for approximately 1.4% of Tealwood Asset Management Inc.'s holdings, making the stock its 5th biggest position. Tealwood Asset Management Inc.'s holdings in Meta Platforms were worth $3,013,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of META. Fjell Capital LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at about $1,836,000. Opulen Financial Group LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at about $325,000. Daner Wealth Management LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at about $334,000. Appleton Partners Inc. MA grew its position in shares of Meta Platforms by 3.7% during the fourth quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock valued at $15,406,000 after purchasing an additional 951 shares in the last quarter. Finally, Brighton Jones LLC grew its position in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after acquiring an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $697.71 on Friday. The company has a market capitalization of $1.75 trillion, a PE ratio of 29.17, a P/E/G ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a 50 day moving average price of $587.67 and a 200-day moving average price of $614.84.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 earnings per share. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $609.00, for a total transaction of $370,272.00. Following the transaction, the chief operating officer now directly owns 8,054 shares of the company's stock, valued at approximately $4,904,886. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,171 shares of company stock valued at $35,163,457. Corporate insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on META. Jefferies Financial Group dropped their price target on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Monness Crespi & Hardt lifted their price target on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price target on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Tigress Financial reiterated a "strong-buy" rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Finally, Raymond James dropped their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. One research 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $702.48.

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.

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