Deltec Asset Management LLC Buys 1,112 Shares of Meta Platforms, Inc. (NASDAQ:META)

Deltec Asset Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,490 shares of the social networking company's stock after purchasing an additional 1,112 shares during the quarter. Meta Platforms comprises approximately 3.2% of Deltec Asset Management LLC's investment portfolio, making the stock its 11th biggest position. Deltec Asset Management LLC's holdings in Meta Platforms were worth $15,268,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the fourth quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC grew its holdings in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after purchasing an additional 30 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the firm'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 approximately $10,855,043.68. This trade represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now directly owns 5,622 shares of the company's stock, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,002 shares of company stock valued at $73,353,340. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Trading Up 2.0%

Meta Platforms stock traded up $13.67 during trading hours on Tuesday, reaching $712.20. The stock had a trading volume of 13,806,658 shares, compared to its average volume of 14,499,646. The stock has a market cap of $1.79 trillion, a PE ratio of 27.78, a PEG ratio of 1.72 and a beta of 1.26. The company has a fifty day simple moving average of $625.25 and a 200-day simple moving average of $624.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.71 EPS. Analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Cantor Fitzgerald increased their target price on Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. Citigroup upped their price target on Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a research report on Tuesday. Susquehanna cut their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group lowered their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Benchmark decreased their price objective on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. One 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $712.69.

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.