Osprey Private Wealth LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 20.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,993 shares of the social networking company's stock after buying an additional 2,695 shares during the quarter. Meta Platforms makes up about 5.5% of Osprey Private Wealth LLC's investment portfolio, making the stock its 2nd largest position. Osprey Private Wealth LLC's holdings in Meta Platforms were worth $9,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently modified their holdings of META. Fjell Capital LLC acquired a new position in Meta Platforms during the fourth quarter valued at approximately $1,836,000. Opulen Financial Group LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $325,000. Daner Wealth Management LLC bought a new position in shares of Meta Platforms during the fourth quarter worth about $334,000. Brighton Jones LLC raised its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Meta Platforms during the 4th quarter worth about $112,406,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Stock Down 1.5%
Shares of Meta Platforms stock traded down $10.49 on Friday, reaching $682.87. The stock had a trading volume of 9,259,272 shares, compared to its average volume of 14,501,078. The company has a 50 day moving average price of $604.07 and a 200 day moving average price of $619.26. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock has a market capitalization of $1.72 trillion, a P/E ratio of 28.55, a P/E/G ratio of 1.42 and a beta of 1.26.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the business posted $4.71 EPS. The firm's quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on META shares. Roth Capital boosted their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Barclays lowered their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, Scotiabank cut their price target on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. One equities 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $704.26.
Get Our Latest Report on META
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total transaction of $453,012.27. Following the transaction, the insider now directly owns 27,498 shares of the company's stock, valued at $13,525,441.26. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,201 shares of company stock valued at $56,377,837. Company insiders own 13.61% of the company's stock.
Meta Platforms Profile
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Free Report)
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.
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