Tandem Investment Advisors Inc. Buys Shares of 1,166 Meta Platforms, Inc. (NASDAQ:META)

Tandem Investment Advisors Inc. purchased a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,166 shares of the social networking company's stock, valued at approximately $672,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Opulen Financial Group LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth $325,000. Brighton Jones LLC grew its stake in shares of Meta Platforms by 1.7% during the 4th 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 during the period. Revolve Wealth Partners LLC grew its stake in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the period. SOA Wealth Advisors LLC. grew its stake in shares of Meta Platforms by 5.5% during the 4th quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock worth $1,989,000 after purchasing an additional 178 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its stake in shares of Meta Platforms by 3.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after purchasing an additional 7,587 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

META stock traded up $14.19 during mid-day trading on Wednesday, reaching $734.86. The company had a trading volume of 1,433,244 shares, compared to its average volume of 14,448,290. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.85 trillion, a P/E ratio of 28.63, a P/E/G ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The stock's 50-day simple moving average is $665.58 and its two-hundred day simple moving average is $631.83.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the company posted $4.71 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. Research analysts anticipate 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 was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on META shares. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Oppenheimer increased their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. TD Securities lowered their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. UBS Group reaffirmed a "buy" rating and set a $812.00 price target (up from $683.00) on shares of Meta Platforms in a research note on Thursday, June 26th. Finally, 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. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $727.95.

Insiders Place Their Bets

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the firm'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 transaction of $14,296,645.65. Following the sale, the chief technology officer owned 1,183 shares of the company's stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,756 shares of company stock worth $104,720,878 over the last ninety days. 13.61% of the stock is currently owned by company 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.