TBH Global Asset Management LLC Has $5.71 Million Position in Meta Platforms, Inc. (NASDAQ:META)

TBH Global Asset Management LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,898 shares of the social networking company's stock after purchasing an additional 880 shares during the quarter. Meta Platforms comprises approximately 0.6% of TBH Global Asset Management LLC's holdings, making the stock its 17th largest holding. TBH Global Asset Management LLC's holdings in Meta Platforms were worth $5,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in META. Wall Street Financial Group Inc. boosted its stake in Meta Platforms by 23.7% during the 1st quarter. Wall Street Financial Group Inc. now owns 721 shares of the social networking company's stock worth $416,000 after acquiring an additional 138 shares during the last quarter. Westfuller Advisors LLC boosted its position in shares of Meta Platforms by 7.9% during the first quarter. Westfuller Advisors LLC now owns 452 shares of the social networking company's stock worth $260,000 after purchasing an additional 33 shares in the last quarter. Aljian Capital Management LLC grew its holdings in shares of Meta Platforms by 3.3% in the 1st quarter. Aljian Capital Management LLC now owns 3,252 shares of the social networking company's stock valued at $1,874,000 after buying an additional 105 shares during the period. Convergence Financial LLC grew its holdings in shares of Meta Platforms by 3.7% in the 1st quarter. Convergence Financial LLC now owns 6,434 shares of the social networking company's stock valued at $3,709,000 after buying an additional 230 shares during the period. Finally, Guardian Asset Advisors LLC increased its position in shares of Meta Platforms by 22.6% in the 1st quarter. Guardian Asset Advisors LLC now owns 1,618 shares of the social networking company's stock valued at $934,000 after buying an additional 298 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on META. Scotiabank decreased their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. Loop Capital boosted their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Needham & Company LLC raised Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday. Cantor Fitzgerald lifted their price objective on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a report on Wednesday, June 18th. Finally, Raymond James Financial reduced their target price on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $719.29.

Meta Platforms Price Performance

Meta Platforms stock traded up $3.34 during mid-day trading on Friday, reaching $716.91. 8,601,653 shares of the company were exchanged, compared to its average volume of 14,572,054. The company has a fifty day simple moving average of $658.89 and a 200-day simple moving average of $629.81. The firm has a market cap of $1.80 trillion, a PE ratio of 27.96, a PEG ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. During the same period in the prior year, the company posted $4.71 earnings per share. The business's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $740.97, for a total transaction of $383,081.49. Following the completion of the transaction, the chief operating officer directly owned 7,853 shares of the company's stock, valued at $5,818,837.41. This trade represents a 6.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 154,285 shares of company stock valued at $105,518,153. 13.61% of the stock is currently owned by corporate 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.