NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd Sells 1,759 Shares of Meta Platforms, Inc. (NASDAQ:META)

NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 22.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,186 shares of the social networking company's stock after selling 1,759 shares during the period. Meta Platforms accounts for about 17.5% of NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd's portfolio, making the stock its 2nd biggest holding. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd's holdings in Meta Platforms were worth $3,565,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Valley Financial Group Inc. boosted its stake in Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares during the period. Lantern Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after acquiring an additional 14 shares during the last quarter. Meredith Wealth Planning lifted its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after acquiring an additional 15 shares during the last quarter. Maiden Cove Capital LLC boosted its position in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after purchasing an additional 15 shares during the period. Finally, Riverwater Partners LLC increased its holdings in Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Down 0.2%

Shares of NASDAQ META traded down $1.46 during midday trading on Thursday, hitting $695.77. 9,635,650 shares of the company's stock were exchanged, compared to its average volume of 14,501,973. The firm's fifty day simple moving average is $612.33 and its 200-day simple moving average is $621.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market cap of $1.75 trillion, a PE ratio of 27.14, a P/E/G ratio of 1.72 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 data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share 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 during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the firm earned $4.71 EPS. The company's revenue was up 16.1% compared to the same quarter last year. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on META shares. Wedbush upped their price target on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. 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. TD Securities decreased their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Guggenheim lifted their target price on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Scotiabank cut their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. 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 assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus price target of $710.00.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total value of $577,513.05. Following the completion of the sale, the insider now owns 31,182 shares in the company, valued at approximately $19,552,673.10. The trade was a 2.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 6,838 shares in the company, valued at approximately $4,205,164.86. This trade represents a 8.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,512 shares of company stock worth $73,590,232 over the last 90 days. Corporate insiders own 13.61% of the company's stock.

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.