Robbins Farley Has $3.85 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Robbins Farley cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,684 shares of the social networking company's stock after selling 1,300 shares during the quarter. Meta Platforms makes up approximately 2.0% of Robbins Farley's holdings, making the stock its 21st largest holding. Robbins Farley's holdings in Meta Platforms were worth $3,852,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of META. Fjell Capital LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $1,836,000. Opulen Financial Group LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $325,000. Daner Wealth Management LLC bought a new position in Meta Platforms during the fourth quarter valued at about $334,000. Brighton Jones LLC raised its position in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Meta Platforms in the 4th quarter worth about $112,406,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Pivotal Research reduced their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley lifted their target price on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $704.26.

Meta Platforms Stock Performance

Meta Platforms stock traded up $20.81 during midday trading on Monday, hitting $703.16. 6,342,630 shares of the company's stock were exchanged, compared to its average volume of 14,490,559. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. 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 firm's 50 day simple moving average is $604.07 and its 200 day simple moving average is $619.96. The stock has a market cap of $1.77 trillion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

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 (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm posted $4.71 EPS. The company's quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued 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 dividend yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer now owns 1,183 shares of the company's stock, valued at $753,393.55. This represents a 94.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $600.25, for a total value of $552,830.25. Following the transaction, the insider now directly owns 32,103 shares of the company's stock, valued at approximately $19,269,825.75. The trade was a 2.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,593 shares of company stock valued at $56,008,477. Company insiders own 13.61% of the company's stock.

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.