Gateway Investment Advisers LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 426,021 shares of the social networking company's stock after selling 719 shares during the period. Meta Platforms accounts for 2.8% of Gateway Investment Advisers LLC's portfolio, making the stock its 5th largest position. Gateway Investment Advisers LLC's holdings in Meta Platforms were worth $245,541,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Suvretta Capital Management LLC grew its position in shares of Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after buying an additional 1,850 shares during the period. Skye Global Management LP grew its position in shares of Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after buying an additional 43,200 shares during the period. Brueske Advisory Services LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $459,000. Apollon Financial LLC grew its position in shares of Meta Platforms by 11.1% during the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock worth $866,000 after buying an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after buying an additional 1,229,350 shares during the period. Institutional investors own 79.91% of the company's stock.
Analyst Upgrades and Downgrades
META has been the subject of several analyst reports. KeyCorp boosted their target price on Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Rosenblatt Securities lifted their price objective on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wedbush lifted their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. TD Securities cut their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Loop Capital lifted their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $702.48.
Get Our Latest Stock Report on META
Meta Platforms Stock Performance
Shares of META stock traded up $13.09 during trading on Friday, reaching $697.71. 11,707,462 shares of the company's stock were exchanged, compared to its average volume of 14,510,730. The firm's fifty day moving average price is $587.67 and its 200-day moving average price is $614.84. The stock has a market capitalization of $1.75 trillion, a PE ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve 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.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the previous year, the business posted $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS 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 $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 0.30%. Meta Platforms's payout ratio is 8.19%.
Insider Activity at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $609.00, for a total transaction of $370,272.00. Following the sale, the chief operating officer now directly owns 8,054 shares in the company, valued at $4,904,886. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the business'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 transaction of $3,334,383.52. Following the completion of the transaction, the chief technology officer now 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. Over the last ninety days, insiders sold 56,171 shares of company stock worth $35,163,457. Company insiders own 13.61% of the company's stock.
Meta Platforms Profile
(
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.
See Also
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
