Rheos Capital Works Inc. Has $38.90 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Rheos Capital Works Inc. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 80.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,500 shares of the social networking company's stock after acquiring an additional 30,000 shares during the period. Meta Platforms accounts for approximately 3.2% of Rheos Capital Works Inc.'s portfolio, making the stock its 8th largest holding. Rheos Capital Works Inc.'s holdings in Meta Platforms were worth $38,904,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Millstone Evans Group LLC bought a new position in Meta Platforms in the 4th quarter worth $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at $47,000. Finally, Principia Wealth Advisory LLC grew its position in Meta Platforms by 53.6% during the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 1,462 shares of Meta Platforms stock in a transaction on Friday, June 6th. The stock was 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 owns 139,538 shares in the company, valued at $97,834,277.94. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,104 shares of company stock worth $35,270,242 over the last 90 days. 13.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on META. Susquehanna decreased their price target 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. Royal Bank of Canada restated an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. 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. Loop Capital upped their price objective on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Benchmark decreased their price target on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. One 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $702.48.

Meta Platforms Price Performance

NASDAQ:META traded up $8.34 during trading hours on Tuesday, reaching $702.40. 10,572,177 shares of the company's stock were exchanged, compared to its average volume of 14,509,543. The business's 50-day simple moving average is $589.87 and its two-hundred day simple moving average is $616.49. The company has a market capitalization of $1.77 trillion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. 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 12 month low of $442.65 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping 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 net margin of 37.91% and a return on equity of 38.17%. The company's revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $4.71 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

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.