NTV Asset Management LLC Buys 429 Shares of Meta Platforms, Inc. (NASDAQ:META)

NTV Asset Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,827 shares of the social networking company's stock after purchasing an additional 429 shares during the quarter. NTV Asset Management LLC's holdings in Meta Platforms were worth $5,088,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Suvretta Capital Management LLC grew its holdings in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after acquiring an additional 1,850 shares during the last quarter. Skye Global Management LP grew its holdings in Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after acquiring an additional 43,200 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after acquiring an additional 1,229,350 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Meta Platforms by 25.1% during the 4th quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock worth $215,760,000 after acquiring an additional 73,907 shares during the last quarter. Finally, Arcadia Wealth Management Inc. bought a new stake in Meta Platforms during the 4th quarter worth approximately $600,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ META opened at $717.51 on Friday. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year 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. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.78 and a beta of 1.28. The company has a fifty day moving average price of $674.77 and a 200-day moving average price of $634.17.

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

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

META has been the topic of a number of research reports. TD Cowen boosted their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a report on Wednesday. Jefferies Financial Group reduced their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Scotiabank reduced their price objective 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. Pivotal Research reduced their price objective on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Susquehanna reduced their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Five 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $729.38.

Insider Activity at Meta Platforms

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 transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer owned 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares of the company's stock, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,792 shares of company stock worth $105,466,325. 13.61% of the stock is owned by company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.