Pallas Capital Advisors LLC Purchases 2,950 Shares of Meta Platforms, Inc. (NASDAQ:META)

Pallas Capital Advisors LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,934 shares of the social networking company's stock after acquiring an additional 2,950 shares during the quarter. Pallas Capital Advisors LLC's holdings in Meta Platforms were worth $13,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Valley Financial Group Inc. increased 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 valued at $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC increased its position in shares of Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after purchasing an additional 14 shares during the period. Seelaus Asset Management LLC raised its stake in shares of Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after purchasing an additional 15 shares in the last quarter. Meredith Wealth Planning raised its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after purchasing an additional 15 shares in the last quarter. Finally, Maiden Cove Capital LLC lifted its position in Meta Platforms by 3.2% in the fourth 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. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer now directly owns 1,183 shares of the company's stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 1,462 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the completion of the transaction, the chief executive officer now directly owns 139,538 shares in the company, valued at approximately $97,834,277.94. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,104 shares of company stock valued at $35,270,242. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 0.2%

NASDAQ META traded down $1.64 during trading hours on Wednesday, hitting $700.76. 2,672,068 shares of the company traded hands, compared to its average volume of 14,477,489. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The business's 50-day moving average is $593.29 and its 200-day moving average is $617.09. The stock has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.42 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 released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for 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 revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.71 earnings per share. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on META shares. UBS Group increased their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Raymond James dropped their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group upped their price objective on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Royal Bank of Canada restated an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Evercore ISI boosted their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $702.48.

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.