Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Dunhill Financial LLC

Dunhill Financial LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 32.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,698 shares of the social networking company’s stock after selling 827 shares during the period. Dunhill Financial LLC’s holdings in Meta Platforms were worth $979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Meta Platforms in the fourth quarter worth $19,949,512,000. GAMMA Investing LLC lifted its holdings in Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Proficio Capital Partners LLC grew its position in Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after buying an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Meta Platforms during the 4th quarter valued at about $2,243,603,000. Finally, Northern Trust Corp raised its position in shares of Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on META shares. Oppenheimer increased their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the company an “outperform” rating in a report on Monday. Rosenblatt Securities increased their price target on Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Cantor Fitzgerald boosted their price objective on Meta Platforms from $676.00 to $807.00 and gave the stock an “overweight” rating in a research note on Wednesday. Loop Capital upped their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group lifted their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One equities research 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $710.00.

Meta Platforms Trading Down 0.2%

NASDAQ:META opened at $695.77 on Friday. The company has a market capitalization of $1.75 trillion, a P/E ratio of 27.14, a P/E/G ratio of 1.71 and a beta of 1.26. The stock’s 50 day moving average price is $615.32 and its 200 day moving average price is $622.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) 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 company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.71 earnings per share. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.19%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owns 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,512 shares of company stock worth $73,590,232. 13.61% of the stock is owned by corporate insiders.

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.