May Barnhard Investments LLC Has $535,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

May Barnhard Investments LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 929 shares of the social networking company’s stock after selling 21 shares during the period. May Barnhard Investments LLC’s holdings in Meta Platforms were worth $535,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Suvretta Capital Management LLC lifted its holdings in shares of Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after acquiring an additional 1,850 shares during the last quarter. Skye Global Management LP lifted its holdings in shares of Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after acquiring an additional 43,200 shares during the last quarter. Brueske Advisory Services LLC bought a new position in shares of Meta Platforms in the fourth quarter worth about $459,000. Apollon Financial LLC lifted its holdings in shares of Meta Platforms by 11.1% in the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after acquiring an additional 148 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock worth $1,001,044,000 after acquiring an additional 1,229,350 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Oppenheimer raised their price objective on shares of Meta Platforms from $650.00 to $665.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Jefferies Financial Group dropped their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a report on Monday, April 7th. Wedbush raised their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, May 1st. One 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $704.26.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.00, for a total value of $363,819.00. Following the transaction, the insider now directly owns 29,183 shares of the company’s stock, valued at approximately $20,457,283. The trade was a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. This trade represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,201 shares of company stock worth $56,377,837 in the last quarter. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $693.36 on Friday. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market cap of $1.74 trillion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.42 and a beta of 1.26. The company has a fifty day moving average price of $600.62 and a 200-day moving average price of $618.50.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the business posted $4.71 EPS. The business’s revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s payout ratio is 8.19%.

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.