Meta Platforms, Inc. (NASDAQ:META) is Value Star Asset Management Hong Kong Ltd's 3rd Largest Position

Value Star Asset Management Hong Kong Ltd decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 63.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,000 shares of the social networking company's stock after selling 7,000 shares during the period. Meta Platforms comprises approximately 14.9% of Value Star Asset Management Hong Kong Ltd's portfolio, making the stock its 3rd biggest holding. Value Star Asset Management Hong Kong Ltd's holdings in Meta Platforms were worth $2,305,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms during the 1st quarter valued at $25,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms during the 4th quarter valued at $45,000. Finally, Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms during the 4th quarter valued at $47,000. Institutional investors own 79.91% of the company's stock.

Meta Platforms Trading Up 1.0%

NASDAQ:META traded up $7.54 during midday trading on Friday, hitting $733.63. 18,758,104 shares of the company traded hands, compared to its average volume of 14,544,676. The firm's fifty day moving average is $633.87 and its 200-day moving average is $625.73. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The firm has a market capitalization of $1.84 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.79 and a beta of 1.26. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 EPS. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

META has been the topic of a number of research reports. Scotiabank dropped their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. KeyCorp boosted their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and set a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Susquehanna dropped 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. Finally, Citigroup upped their price target on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a "buy" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $719.52.

Insider Activity

In related news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $563.03, for a total transaction of $342,322.24. Following the sale, the chief operating officer now owns 6,230 shares of the company's stock, valued at $3,507,676.90. This trade represents a 8.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total value of $525,577.86. Following the sale, the insider now directly owns 30,261 shares in the company, valued at approximately $17,268,742.26. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,831 shares of company stock worth $83,868,872. 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.