Roman Butler Fullerton & Co. Has $3.18 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Roman Butler Fullerton & Co. lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,515 shares of the social networking company's stock after selling 1,561 shares during the period. Meta Platforms accounts for about 1.2% of Roman Butler Fullerton & Co.'s investment portfolio, making the stock its 20th biggest holding. Roman Butler Fullerton & Co.'s holdings in Meta Platforms were worth $3,179,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Suvretta Capital Management LLC grew its stake in Meta Platforms by 1.1% in the 4th 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 during the last quarter. Skye Global Management LP boosted its holdings in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after acquiring an additional 43,200 shares during the period. Brueske Advisory Services LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $459,000. Kovitz Investment Group Partners LLC increased its stake in shares of Meta Platforms by 255.9% in the fourth 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 purchasing an additional 1,229,350 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of 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 purchasing an additional 110,040 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on META. Barclays lowered their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Citigroup restated a "buy" rating on shares of Meta Platforms in a research note on Thursday, June 12th. Piper Sandler boosted their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Bank of America raised their price target on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $710.00.

Meta Platforms Price Performance

Meta Platforms stock traded down $13.42 on Friday, reaching $682.35. The company's stock had a trading volume of 22,498,010 shares, compared to its average volume of 14,533,962. The business's fifty day moving average price is $615.32 and its 200 day moving average price is $622.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market cap of $1.72 trillion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.71 and a beta of 1.26. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

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 (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 EPS. The firm's quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity

In other news, COO Javier Olivan sold 608 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $614.97, for a total transaction of $373,901.76. Following the completion of the sale, the chief operating officer now owns 6,838 shares in the company, valued at $4,205,164.86. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 6,874 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 $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,512 shares of company stock valued at $73,590,232 over the last three months. 13.61% of the stock is owned by insiders.

Meta Platforms Company 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.