Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by WIM INVESTMENT MANAGEMENT Ltd

WIM INVESTMENT MANAGEMENT Ltd grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 54,400 shares of the social networking company's stock after acquiring an additional 5,500 shares during the quarter. Meta Platforms comprises 13.1% of WIM INVESTMENT MANAGEMENT Ltd's investment portfolio, making the stock its 2nd biggest holding. WIM INVESTMENT MANAGEMENT Ltd's holdings in Meta Platforms were worth $31,354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Csenge Advisory Group raised its holdings in Meta Platforms by 12.0% during the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company's stock worth $5,498,000 after purchasing an additional 1,019 shares in the last quarter. Suvretta Capital Management LLC grew its position in shares of Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after buying an additional 1,850 shares during the last quarter. Skye Global Management LP raised its stake in 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 acquiring an additional 43,200 shares in the last quarter. ARQ Wealth Advisors LLC lifted its position in Meta Platforms by 4.5% in the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company's stock valued at $452,000 after acquiring an additional 34 shares during the last quarter. Finally, JMG Financial Group Ltd. acquired a new position in Meta Platforms in the first quarter valued at $284,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares of the company's stock, valued at $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 152,980 shares of company stock worth $105,708,832. 13.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial lifted their target price on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Jefferies Financial Group cut their price target on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Citizens Jmp increased their price objective on Meta Platforms from $750.00 to $900.00 and gave the company an "outperform" rating in a report on Thursday. Scotiabank raised their target price on shares of Meta Platforms from $675.00 to $685.00 and gave the stock a "sector perform" rating in a research report on Thursday. Finally, Raymond James Financial upped their price target on shares of Meta Platforms from $750.00 to $900.00 and gave the company a "strong-buy" rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $820.32.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $750.01 on Friday. The firm has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 2.66. The business's 50 day simple moving average is $701.68 and its 200-day simple moving average is $645.88. Meta Platforms, Inc. has a 12 month low of $450.80 and a 12 month high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. Meta Platforms's revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $5.16 earnings per share. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Meta Platforms Company 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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