Neville Rodie & Shaw Inc. Acquires 514 Shares of Meta Platforms, Inc. (NASDAQ:META)

Neville Rodie & Shaw Inc. grew its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 27,068 shares of the social networking company's stock after acquiring an additional 514 shares during the period. Meta Platforms comprises about 1.2% of Neville Rodie & Shaw Inc.'s holdings, making the stock its 23rd largest holding. Neville Rodie & Shaw Inc.'s holdings in Meta Platforms were worth $15,601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Meta Platforms by 0.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 99,296 shares of the social networking company's stock worth $57,230,000 after acquiring an additional 866 shares during the period. Milestone Asset Management Group LLC purchased a new stake in shares of Meta Platforms in the 4th quarter worth approximately $2,662,000. Avant Financial Advisors LLC purchased a new position in Meta Platforms during the fourth quarter valued at $497,000. Fire Capital Management LLC bought a new stake in Meta Platforms in the fourth quarter worth $1,235,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter worth $1,987,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Price Performance

META traded down $2.82 during trading on Friday, hitting $642.23. 16,230,863 shares of the company traded hands, compared to its average volume of 14,491,179. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.61 trillion, a PE ratio of 26.85, a P/E/G ratio of 1.42 and a beta of 1.24. The stock's 50-day simple moving average is $578.25 and its two-hundred day simple moving average is $610.43. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.71 earnings per share. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed 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 of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms's payout ratio is 8.19%.

Insider Activity

In related news, CFO Susan J. Li sold 6,874 shares of the 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 of the company's stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer now directly owns 1,183 shares of the company's stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,664 shares of company stock worth $35,484,670 over the last 90 days. Corporate insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the subject of several recent analyst reports. Mizuho lifted their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Piper Sandler lifted their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Truist Financial raised their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Benchmark lowered their price objective on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Guggenheim lifted their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $701.05.

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.