Bouvel Investment Partners LLC Sells 81 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bouvel Investment Partners LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,489 shares of the social networking company’s stock after selling 81 shares during the period. Meta Platforms accounts for about 2.2% of Bouvel Investment Partners LLC’s investment portfolio, making the stock its 15th largest position. Bouvel Investment Partners LLC’s holdings in Meta Platforms were worth $5,432,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on META shares. Oppenheimer lifted their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the company an “outperform” rating in a research report on Monday. Wedbush boosted their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Evercore ISI boosted their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, Citigroup restated a “buy” rating on shares of Meta Platforms in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $706.88.

Meta Platforms Trading Up 2.8%

NASDAQ:META opened at $702.12 on Tuesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $607.90 and its two-hundred day moving average is $620.85. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a market cap of $1.77 trillion, a PE ratio of 29.35, a P/E/G ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.71 EPS. On average, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the transaction, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $701.00, for a total value of $363,819.00. Following the transaction, the insider now directly owns 29,183 shares of the company’s stock, valued at approximately $20,457,283. The trade was a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,672 shares of company stock worth $55,455,647 in the last three months. 13.61% of the stock is owned by company insiders.

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.