Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Raised by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,039 shares of the social networking company's stock after buying an additional 395 shares during the quarter. Meta Platforms accounts for about 3.1% of Eagle Rock Investment Company LLC's investment portfolio, making the stock its 4th largest holding. Eagle Rock Investment Company LLC's holdings in Meta Platforms were worth $17,890,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in META. Vanguard Group Inc. grew its holdings in Meta Platforms by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC grew its holdings in Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after acquiring an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares during the period. Capital World Investors grew its holdings in Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after acquiring an additional 1,141,355 shares during the period. Finally, Norges Bank acquired a new position in Meta Platforms during the fourth quarter worth about $19,949,512,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on META shares. Susquehanna cut their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Royal Bank of Canada restated an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Loop Capital raised their price objective on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Evercore ISI raised their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a research report on Tuesday, February 11th. One research 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's stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $702.48.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total value of $348,249.00. Following the completion of the sale, the insider now directly owns 29,702 shares of the company's stock, valued at $19,930,042. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert M. Kimmitt sold 475 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $628.25, for a total value of $298,418.75. Following the completion of the transaction, the director now directly owns 10,272 shares of the company's stock, valued at approximately $6,453,384. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,171 shares of company stock valued at $35,163,457. 13.61% of the stock is owned by company insiders.

Meta Platforms Trading Up 1.9%

Shares of NASDAQ META traded up $13.09 during trading on Friday, reaching $697.71. The company had a trading volume of 11,707,462 shares, compared to its average volume of 14,531,332. The company's fifty day moving average price is $587.67 and its 200-day moving average price is $615.55. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a market cap of $1.75 trillion, a P/E ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26. 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 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 firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.71 EPS. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders 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 dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio is 8.19%.

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.