TB Alternative Assets Ltd. Invests $34.91 Million in Meta Platforms, Inc. (NASDAQ:META)

TB Alternative Assets Ltd. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 60,563 shares of the social networking company's stock, valued at approximately $34,906,000. Meta Platforms accounts for approximately 8.1% of TB Alternative Assets Ltd.'s investment portfolio, making the stock its 3rd largest position.

A number of other hedge funds have also recently made changes to their positions in META. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new position in Meta Platforms in the 4th quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC boosted its position in Meta Platforms by 53.6% in the 1st 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.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $13.09 on Friday, reaching $697.71. 11,707,462 shares of the stock were exchanged, compared to its average volume of 14,531,332. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $587.67 and a two-hundred day moving average price of $615.18. The firm has a market capitalization of $1.75 trillion, a PE ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results 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 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the business posted $4.71 earnings per share. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share 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 given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms's payout ratio is currently 8.19%.

Wall Street Analyst Weigh In

Several equities analysts have commented on META shares. The Goldman Sachs Group raised their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Rosenblatt Securities raised their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Cantor Fitzgerald raised their price target on shares of Meta Platforms from $624.00 to $676.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Evercore ISI raised 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. Finally, Wells Fargo & Company decreased their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $702.48.

Insiders Place Their Bets

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,171 shares of company stock worth $35,163,457. 13.61% of the stock is 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.