Dunhill Financial LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 32.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,698 shares of the social networking company's stock after selling 827 shares during the quarter. Dunhill Financial LLC's holdings in Meta Platforms were worth $979,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in META. Suvretta Capital Management LLC grew its stake in shares of Meta Platforms by 1.1% in the fourth 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 in the last quarter. Skye Global Management LP lifted its holdings 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 buying an additional 43,200 shares during the last quarter. Brueske Advisory Services LLC purchased a new stake in Meta Platforms during the 4th quarter worth about $459,000. Kovitz Investment Group Partners LLC lifted its holdings in Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after buying an additional 1,229,350 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after buying an additional 110,040 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Analyst Ratings Changes
META has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Truist Financial lifted their price target on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. KeyCorp lifted their price target on Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Loop Capital lifted their price target on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Wedbush lifted their price target on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $710.00.
Check Out Our Latest Stock Report on Meta Platforms
Meta Platforms Stock Performance
META stock traded down $13.42 during trading on Friday, hitting $682.35. The company had a trading volume of 22,498,010 shares, compared to its average volume of 14,546,632. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $618.10 and a 200-day moving average price of $623.08. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The firm has a market cap of $1.72 trillion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the previous year, the firm posted $4.71 EPS. The firm's quarterly revenue was up 16.1% on a year-over-year basis. On average, 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 announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.
Insiders Place Their Bets
In other news, CEO Mark Zuckerberg sold 8,312 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $702.13, for a total transaction of $5,836,104.56. Following the sale, the chief executive officer now owns 88,372 shares of the company's stock, valued at $62,048,632.36. The trade was a 8.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $614.97, for a total value of $373,901.76. Following the completion of the sale, the chief operating officer now owns 6,838 shares in the company, valued at approximately $4,205,164.86. This represents a 8.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,031 shares of company stock worth $73,954,565. Company insiders own 13.61% of the company's stock.
Meta Platforms Company Profile
(
Free Report)
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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