5,612 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Inscription Capital LLC

Inscription Capital LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,612 shares of the social networking company’s stock, valued at approximately $3,235,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Valley Financial Group Inc. grew its holdings in Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock valued at $344,000 after buying an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC boosted its position in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock valued at $1,743,000 after acquiring an additional 14 shares during the period. Meredith Wealth Planning grew its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after acquiring an additional 15 shares during the last quarter. Maiden Cove Capital LLC grew its stake in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after acquiring an additional 15 shares during the last quarter. Finally, Riverwater Partners LLC raised its stake in Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after purchasing an additional 15 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Down 0.7%

META opened at $697.23 on Wednesday. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The stock has a market capitalization of $1.75 trillion, a PE ratio of 27.19, a PEG ratio of 1.73 and a beta of 1.26. 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 firm has a 50-day moving average price of $610.13 and a two-hundred day moving average price of $621.38.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. During the same period in the prior year, the firm earned $4.71 earnings per share. Meta Platforms’s 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 fiscal year.

Meta Platforms Dividend Announcement

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 is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.19%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.00, for a total value of $363,819.00. Following the completion of the sale, the insider now directly owns 29,183 shares in the company, valued at $20,457,283. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer now directly owns 1,183 shares of the company’s stock, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,672 shares of company stock worth $55,455,647 over the last 90 days. 13.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on META shares. Morgan Stanley raised their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Loop Capital boosted their price target on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. KeyCorp lifted their price objective on Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Finally, Pivotal Research cut their target price on Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a research note 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 given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $706.88.

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.