May Hill Capital LLC Buys 86 Shares of Meta Platforms, Inc. (NASDAQ:META)

May Hill Capital LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,952 shares of the social networking company’s stock after acquiring an additional 86 shares during the period. Meta Platforms accounts for about 1.1% of May Hill Capital LLC’s portfolio, making the stock its 20th biggest position. May Hill Capital LLC’s holdings in Meta Platforms were worth $2,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC increased its stake in Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock worth $28,719,970,000 after acquiring an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares during the period. Capital World Investors increased its stake in Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after acquiring an additional 1,141,355 shares during the period. Finally, Norges Bank bought a new position in Meta Platforms during the 4th quarter worth $19,949,512,000. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on META shares. Pivotal Research lowered their price objective on Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Wedbush lifted their price target on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Raymond James Financial decreased their price target on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 1st. Piper Sandler reiterated an “overweight” rating and issued a $808.00 price target (up previously from $650.00) on shares of Meta Platforms in a research note on Friday, June 27th. Finally, Susquehanna decreased their price target on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $729.38.

Meta Platforms Stock Down 1.3%

Shares of META opened at $717.51 on Friday. The company has a market capitalization of $1.80 trillion, a PE ratio of 27.98, a PEG ratio of 1.78 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The stock’s 50-day moving average price is $674.77 and its two-hundred day moving average price is $634.17. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

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

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms’s dividend payout ratio is 8.19%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 13,793 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares of the company’s stock, valued at $82,928,955.27. The trade was a 10.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were 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 directly owned 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,792 shares of company stock valued at $105,466,325 in the last ninety days. 13.61% of the stock is owned by company insiders.

About Meta Platforms

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.