Jaffetilchin Investment Partners LLC Buys 586 Shares of Meta Platforms, Inc. (NASDAQ:META)

Jaffetilchin Investment Partners LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 33,353 shares of the social networking company's stock after purchasing an additional 586 shares during the quarter. Meta Platforms accounts for 1.4% of Jaffetilchin Investment Partners LLC's portfolio, making the stock its 19th largest position. Jaffetilchin Investment Partners LLC's holdings in Meta Platforms were worth $19,223,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Meta Platforms during the fourth quarter valued at $19,949,512,000. GAMMA Investing LLC boosted its position in 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 last quarter. Proficio Capital Partners LLC boosted its position in 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 last quarter. Raymond James Financial Inc. acquired a new stake in Meta Platforms during the fourth quarter valued at $2,243,603,000. Finally, Northern Trust Corp boosted its position in 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 last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $699.27, for a total transaction of $325,160.55. Following the sale, the director directly owned 9,807 shares in the company, valued at $6,857,740.89. This represents a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $730.47, for a total value of $10,075,372.71. Following the sale, the chief executive officer owned 29,947 shares in the company, valued at approximately $21,875,385.09. This trade represents a 31.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,095 shares of company stock valued at $93,076,345 in the last 90 days. Insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of META stock traded down $18.87 during trading hours on Tuesday, hitting $719.22. The company had a trading volume of 13,399,510 shares, compared to its average volume of 14,538,360. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The firm has a market capitalization of $1.81 trillion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.80 and a beta of 1.26. The firm's fifty day moving average is $643.58 and its 200 day moving average is $627.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.

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, topping analysts' consensus estimates of $5.33 by $1.10. The business 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 38.69% and a net margin of 39.11%. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.71 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Analysts Set New Price Targets

META has been the subject of a number of research reports. KeyCorp lifted their price objective on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Monness Crespi & Hardt boosted their price target on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Piper Sandler reaffirmed an "overweight" rating and issued a $808.00 price target (up previously from $650.00) on shares of Meta Platforms in a research report on Friday. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $664.00 price target on shares of Meta Platforms in a research report on Tuesday, June 17th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.