Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Alhambra Investment Management LLC

Alhambra Investment Management LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 22.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,513 shares of the social networking company’s stock after purchasing an additional 274 shares during the quarter. Alhambra Investment Management LLC’s holdings in Meta Platforms were worth $872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of META. Fjell Capital LLC acquired a new position in Meta Platforms in the 4th quarter worth approximately $1,836,000. Opulen Financial Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $325,000. Daner Wealth Management LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $334,000. Appleton Partners Inc. MA boosted its position in Meta Platforms by 3.7% in the 4th quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company’s stock worth $15,406,000 after purchasing an additional 951 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of several recent research reports. Raymond James lowered their price objective on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 1st. Susquehanna lowered their price objective on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Benchmark lowered their price objective on Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, UBS Group upped their price objective on Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $702.48.

Meta Platforms Stock Down 1.2%

NASDAQ META opened at $694.14 on Thursday. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week 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. The business’s fifty day simple moving average is $597.08 and its 200-day simple moving average is $617.62. The firm has a market cap of $1.75 trillion, a PE ratio of 29.02, a P/E/G ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last posted its quarterly 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. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the firm earned $4.71 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms’s payout ratio is 8.19%.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now directly owns 70,040 shares of the company’s stock, valued at $46,181,574.40. The trade was a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the transaction, the chief operating officer now directly owns 4,608 shares of the company’s stock, valued at approximately $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,682 shares of company stock valued at $56,014,018. 13.61% of the stock is currently owned by insiders.

Meta Platforms 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.