Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by JTC Employer Solutions Trustee Ltd

JTC Employer Solutions Trustee Ltd lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 810.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,414 shares of the social networking company's stock after buying an additional 52,885 shares during the period. Meta Platforms comprises about 2.8% of JTC Employer Solutions Trustee Ltd's investment portfolio, making the stock its 7th largest holding. JTC Employer Solutions Trustee Ltd's holdings in Meta Platforms were worth $34,245,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of META. Norges Bank bought a new stake in Meta Platforms in the fourth quarter valued at approximately $19,949,512,000. GAMMA Investing LLC raised its stake in Meta Platforms by 67,172.9% in 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 buying an additional 23,417,803 shares during the period. Proficio Capital Partners LLC raised its stake in Meta Platforms by 78,471.1% in 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 buying an additional 6,240,810 shares during the period. Raymond James Financial Inc. bought a new stake in Meta Platforms in the fourth quarter valued at approximately $2,243,603,000. Finally, Northern Trust Corp raised its stake in Meta Platforms by 13.5% in 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 buying an additional 2,787,832 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 3.6%

Meta Platforms stock traded up $23.41 during trading hours on Monday, reaching $670.90. 15,706,506 shares of the company's stock were exchanged, compared to its average volume of 14,486,998. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm's 50 day simple moving average is $578.56 and its 200 day simple moving average is $611.28. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm has a market capitalization of $1.69 trillion, a PE ratio of 28.05, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the business posted $4.71 EPS. The business's revenue was up 16.1% compared to the same quarter last year. Research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. Meta Platforms's payout ratio is currently 8.19%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Raymond James dropped their price objective on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. Tigress Financial reiterated a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Rosenblatt Securities increased their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Citigroup increased their target price on Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $644.00, for a total value of $593,124.00. Following the completion of the sale, the insider now directly owns 33,945 shares in the company, valued at $21,860,580. This trade represents a 2.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,056 shares of company stock worth $35,074,903. Company insiders own 13.61% of the company's stock.

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.