Tounjian Advisory Partners LLC Acquires New Position in Meta Platforms, Inc. (NASDAQ:META)

Tounjian Advisory Partners LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,580 shares of the social networking company's stock, valued at approximately $10,710,000. Meta Platforms makes up about 2.0% of Tounjian Advisory Partners LLC's investment portfolio, making the stock its 7th biggest position.

A number of other hedge funds have also modified their holdings of META. Millstone Evans Group LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms during the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms during the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. bought a new stake in Meta Platforms in the 4th quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC raised its holdings in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after acquiring an additional 30 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction dated 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. This trade represents a 2.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 608 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $607.50, for a total value of $369,360.00. Following the sale, the chief operating officer now owns 7,446 shares of the company's stock, valued at approximately $4,523,445. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,104 shares of company stock valued at $35,270,242 over the last ninety days. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded down $1.64 during midday trading on Wednesday, reaching $700.76. The company's stock had a trading volume of 2,672,068 shares, compared to its average volume of 14,477,489. The firm has a market capitalization of $1.76 trillion, a PE ratio of 29.40, a P/E/G ratio of 1.42 and a beta of 1.26. The stock has a fifty day moving average of $593.29 and a 200 day moving average of $617.09. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $4.71 earnings per share. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed 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. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on META shares. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Oppenheimer lifted their price objective on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Piper Sandler upped their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Rosenblatt Securities lifted their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Monness Crespi & Hardt raised their price objective on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $702.48.

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.