Hoge Financial Services LLC Has $1.37 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Hoge Financial Services LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,378 shares of the social networking company’s stock after purchasing an additional 130 shares during the quarter. Meta Platforms accounts for approximately 1.0% of Hoge Financial Services LLC’s investment portfolio, making the stock its 16th biggest holding. Hoge Financial Services LLC’s holdings in Meta Platforms were worth $1,371,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter worth about $19,949,512,000. GAMMA Investing LLC raised its holdings in Meta Platforms by 67,172.9% during 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 acquiring an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Meta Platforms by 78,471.1% during the fourth 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 purchasing an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. bought a new position in Meta Platforms in the fourth quarter valued at approximately $2,243,603,000. Finally, Northern Trust Corp increased 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 purchasing an additional 2,787,832 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 406 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares of the company’s stock, valued at $2,265,707.52. The trade was a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total transaction of $525,577.86. Following the completion of the transaction, the insider now owns 30,261 shares of the company’s stock, valued at approximately $17,268,742.26. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,512 shares of company stock worth $73,590,232 in the last 90 days. Insiders own 13.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. DA Davidson cut their price target on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. Wedbush boosted their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Loop Capital raised their price target on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Citigroup reiterated a “buy” rating on shares of Meta Platforms in a report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, four have given 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, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $710.00.

Meta Platforms Stock Down 0.2%

Shares of NASDAQ META opened at $695.77 on Friday. The company has a market cap of $1.75 trillion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.71 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. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a 50-day moving average price of $615.32 and a two-hundred day moving average price of $622.60.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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