Shayne & Jacobs LLC Has $585,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Shayne & Jacobs LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 185.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,015 shares of the social networking company's stock after acquiring an additional 660 shares during the quarter. Shayne & Jacobs LLC's holdings in Meta Platforms were worth $585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Inlight Wealth Management LLC purchased a new position in Meta Platforms during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms in the first quarter valued at approximately $28,000. Millstone Evans Group LLC acquired a new position in Meta Platforms during the fourth quarter worth $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the fourth quarter worth $45,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Down 1.1%

Shares of NASDAQ:META traded down $8.16 during trading on Tuesday, hitting $704.81. The company's stock had a trading volume of 8,873,115 shares, compared to its average volume of 14,295,060. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The stock's 50-day moving average price is $686.09 and its two-hundred day moving average price is $638.61. The company has a market capitalization of $1.77 trillion, a PE ratio of 27.49, a PEG ratio of 1.72 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last announced 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 analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms'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 firm posted $4.71 earnings per share. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were 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 was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Analysts Set New Price Targets

A number of research firms have issued reports on META. Stifel Nicolaus boosted their price target on Meta Platforms from $655.00 to $845.00 and gave the company a "buy" rating in a research report on Tuesday. Monness Crespi & Hardt boosted their price target on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Susquehanna decreased their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on Meta Platforms from $735.00 to $795.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Needham & Company LLC raised Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday, July 3rd. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $748.60.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the sale, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,437 shares of company stock valued at $105,068,570 in the last three months. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Company 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.