Tepp RIA LLC Invests $239,000 in Meta Platforms, Inc. (NASDAQ:META)

Tepp RIA LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 415 shares of the social networking company's stock, valued at approximately $239,000. Meta Platforms accounts for approximately 0.3% of Tepp RIA LLC's portfolio, making the stock its 25th largest position.

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

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $733.63 on Monday. The company has a market capitalization of $1.84 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.80 and a beta of 1.26. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $742.39. The firm's 50 day simple moving average is $638.51 and its two-hundred day simple moving average is $626.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating 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 firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the firm earned $4.71 EPS. The company's revenue was up 16.1% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's payout ratio is 8.19%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Guggenheim upped their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Rosenblatt Securities upped their price objective on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company reissued an "overweight" rating and issued a $664.00 target price on shares of Meta Platforms in a report on Tuesday, June 17th. Monness Crespi & Hardt boosted their price target on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, UBS Group reaffirmed a "buy" rating and set a $812.00 price objective (up from $683.00) on shares of Meta Platforms in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus price target of $719.52.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer now owns 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $570.66, for a total transaction of $525,577.86. Following the completion of the transaction, the insider now directly owns 30,261 shares in the company, valued at $17,268,742.26. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,223 shares of company stock valued at $83,526,550 over the last 90 days. Company insiders own 13.61% of the company's stock.

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.

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