CV Advisors LLC Acquires 2,400 Shares of Meta Platforms, Inc. (NASDAQ:META)

CV Advisors LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 28.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,930 shares of the social networking company's stock after purchasing an additional 2,400 shares during the quarter. Meta Platforms accounts for approximately 2.2% of CV Advisors LLC's investment portfolio, making the stock its 8th largest position. CV Advisors LLC's holdings in Meta Platforms were worth $6,245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Norges Bank purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $19,949,512,000. GAMMA Investing LLC boosted its stake in shares of Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of 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 purchasing an additional 6,240,810 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $2,243,603,000. Finally, Northern Trust Corp boosted its stake in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Andrew Bosworth sold 5,057 shares of the company'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 owns 16,463 shares in the company, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total transaction of $525,577.86. Following the completion of the sale, the insider now owns 30,261 shares of the company's stock, valued at approximately $17,268,742.26. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,831 shares of company stock worth $83,868,872 over the last three months. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

META stock traded up $7.54 during trading on Friday, hitting $733.63. 18,758,104 shares of the company's stock traded hands, compared to its average volume of 14,539,418. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock has a fifty day moving average price of $638.51 and a two-hundred day moving average price of $626.48. The stock has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26.

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, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 EPS. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on META. UBS Group restated a "buy" rating and issued a $812.00 price objective (up from $683.00) on shares of Meta Platforms in a report on Thursday. Royal Bank Of Canada restated an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a report on Thursday, May 1st. Piper Sandler restated an "overweight" rating and issued a $808.00 price objective (up from $650.00) on shares of Meta Platforms in a report on Friday. Cantor Fitzgerald lifted their price objective on Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a report on Wednesday, June 18th. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $719.52.

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.