MJP Associates Inc. ADV Acquires 376 Shares of Meta Platforms, Inc. (NASDAQ:META)

MJP Associates Inc. ADV increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,953 shares of the social networking company's stock after acquiring an additional 376 shares during the quarter. Meta Platforms accounts for about 0.6% of MJP Associates Inc. ADV's holdings, making the stock its 27th largest position. MJP Associates Inc. ADV's holdings in Meta Platforms were worth $3,431,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Meta Platforms in the 4th quarter worth about $19,949,512,000. GAMMA Investing LLC increased its holdings in shares of Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $2,243,603,000. Northern Trust Corp boosted its holdings in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Meta Platforms by 712.2% during the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock valued at $1,462,589,000 after purchasing an additional 2,225,186 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $717.50, for a total transaction of $370,947.50. Following the completion of the sale, the chief operating officer owned 6,819 shares in the company, valued at $4,892,632.50. This trade represents a 7.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The disclosure for this sale can be found here. Insiders have sold 152,780 shares of company stock worth $105,009,697 over the last three months. Company insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $1.50 during trading on Thursday, hitting $701.41. 11,774,680 shares of the company's stock traded hands, compared to its average volume of 14,419,798. The company has a market cap of $1.76 trillion, a PE ratio of 27.36, a PEG ratio of 1.74 and a beta of 1.28. The firm's fifty day moving average price is $681.78 and its 200 day moving average price is $636.39. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. 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 (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.71 earnings per share. Analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is 8.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on META shares. Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada reissued an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Barclays lowered their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group cut their price target on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Wells Fargo & Company boosted their price target on Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $736.05.

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.