von Borstel & Associates Inc. Has $178,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

von Borstel & Associates Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 29.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 310 shares of the social networking company’s stock after selling 132 shares during the quarter. von Borstel & Associates Inc.’s holdings in Meta Platforms were worth $178,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Suvretta Capital Management LLC raised its stake in Meta Platforms by 1.1% during 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 in the last quarter. Skye Global Management LP increased its position in 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 purchasing an additional 43,200 shares during the period. Kovitz Investment Group Partners LLC increased its position in 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 purchasing an additional 1,229,350 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Meta Platforms by 25.1% during the 4th quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company’s stock valued at $215,760,000 after purchasing an additional 73,907 shares in the last quarter. Finally, Arcadia Wealth Management Inc. bought a new stake in Meta Platforms in the 4th quarter valued at approximately $600,000. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares of the company’s stock, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,756 shares of company stock worth $104,720,878 over the last ninety days. Insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 0.3%

Shares of NASDAQ META opened at $720.67 on Wednesday. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The company has a market cap of $1.81 trillion, a PE ratio of 28.11, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $665.58 and a two-hundred day moving average of $631.83.

Meta Platforms (NASDAQ:META) 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. The company had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.71 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date 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 Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Benchmark cut their target price on Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Oppenheimer raised their target price on Meta Platforms from $665.00 to $775.00 and gave the company an “outperform” rating in a report on Monday, June 16th. Needham & Company LLC raised Meta Platforms from an “underperform” rating to a “hold” rating in a research report on Thursday, July 3rd. The Goldman Sachs Group lifted their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Raymond James Financial reduced their target price on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $724.98.

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.