Lbp Am Sa Has $94.07 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

LBP AM SA grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 163,210 shares of the social networking company's stock after buying an additional 18,874 shares during the quarter. Meta Platforms accounts for 1.5% of LBP AM SA's holdings, making the stock its 12th largest holding. LBP AM SA's holdings in Meta Platforms were worth $94,068,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in META. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms in the 1st quarter valued at $28,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the fourth quarter valued at $45,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 0.5%

NASDAQ META traded up $3.41 during trading on Monday, hitting $720.92. 8,926,415 shares of the company traded hands, compared to its average volume of 15,787,970. The company has a market capitalization of $1.81 trillion, a P/E ratio of 28.12, a PEG ratio of 1.76 and a beta of 1.28. The business has a fifty day simple moving average of $674.77 and a 200 day simple moving average of $634.57. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating 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 net margin of 39.11% and a return on equity of 38.69%. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $4.71 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on META shares. Raymond James Financial lowered their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald raised their price target on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. JMP Securities reiterated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. Morgan Stanley boosted their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, Rosenblatt Securities boosted their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $729.38.

Insider Activity

In related news, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $721.57, for a total transaction of $374,494.83. Following the completion of the transaction, the insider directly owned 27,107 shares in the company, valued at $19,559,597.99. This represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $717.51, for a total transaction of $370,952.67. Following the completion of the sale, the chief operating officer owned 7,336 shares of the company's stock, valued at approximately $5,263,653.36. The trade was a 6.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,184 shares of company stock valued at $105,128,004. 13.61% of the stock is owned by company insiders.

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.