Rubicon Global Capital Ltd Has $51.01 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Rubicon Global Capital Ltd lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,507 shares of the social networking company's stock after selling 3,300 shares during the quarter. Meta Platforms makes up about 17.4% of Rubicon Global Capital Ltd's investment portfolio, making the stock its 2nd largest holding. Rubicon Global Capital Ltd's holdings in Meta Platforms were worth $51,012,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Meta Platforms by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC increased its position in shares of Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD raised its position in Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares in the last quarter. Capital World Investors raised its position in Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after acquiring an additional 1,141,355 shares in the last quarter. Finally, Norges Bank acquired a new stake in Meta Platforms during the 4th quarter worth about $19,949,512,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Price Performance

Shares of META stock traded down $0.78 during trading hours on Thursday, hitting $693.36. 7,303,916 shares of the company's stock were exchanged, compared to its average volume of 14,503,798. The stock's 50-day moving average is $597.08 and its 200-day moving average is $617.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock has a market cap of $1.74 trillion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.42 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 for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.71 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's payout ratio is presently 8.19%.

Analyst Ratings Changes

Several analysts have issued reports on META shares. Benchmark cut their price objective on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Rosenblatt Securities boosted their price target on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $676.00 price target on shares of Meta Platforms in a research note on Wednesday. Finally, Morgan Stanley upped their target price on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average price target of $704.26.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 1,462 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $701.13, for a total value of $1,025,052.06. Following the transaction, the chief executive officer now owns 139,538 shares of the company's stock, valued at approximately $97,834,277.94. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.00, for a total value of $363,819.00. Following the sale, the insider now directly owns 29,183 shares in the company, valued at approximately $20,457,283. This represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,201 shares of company stock valued at $56,377,837. 13.61% of the stock is currently owned by insiders.

About Meta Platforms

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.