Yousif Capital Management LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 276,932 shares of the social networking company's stock after selling 3,711 shares during the period. Meta Platforms makes up about 1.9% of Yousif Capital Management LLC's holdings, making the stock its 5th biggest holding. Yousif Capital Management LLC's holdings in Meta Platforms were worth $159,613,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Fjell Capital LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth about $1,836,000. Opulen Financial Group LLC acquired a new position in Meta Platforms during the fourth quarter valued at approximately $325,000. Daner Wealth Management LLC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $334,000. Appleton Partners Inc. MA grew its stake in Meta Platforms by 3.7% during the fourth quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock worth $15,406,000 after buying an additional 951 shares during the period. Finally, Brighton Jones LLC raised its stake in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after acquiring an additional 570 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on META shares. Truist Financial upped their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Wedbush increased their target price on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Guggenheim boosted their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Scotiabank decreased their price target on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $702.48.
Read Our Latest Stock Report on Meta Platforms
Meta Platforms Stock Performance
META stock traded up $8.34 during trading on Tuesday, hitting $702.40. 10,818,910 shares of the company's stock traded hands, compared to its average volume of 14,509,547. The stock has a fifty day moving average price of $589.87 and a two-hundred day moving average price of $616.49. 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, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.
Meta Platforms (NASDAQ:META - Get Free Report) last released 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 37.91% and a return on equity of 38.17%. The firm 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 business earned $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's payout ratio is currently 8.19%.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total transaction of $348,249.00. Following the sale, the insider now owns 29,702 shares of the company's stock, valued at $19,930,042. The trade was a 1.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 1,462 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the transaction, the chief executive officer now directly owns 139,538 shares in the company, valued at $97,834,277.94. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,104 shares of company stock worth $35,270,242. 13.61% of the stock is owned by insiders.
About Meta Platforms
(
Free Report)
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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