Jericho Financial LLP Sells 61 Shares of Meta Platforms, Inc. (NASDAQ:META)

Jericho Financial LLP decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.5% during the first quarter, HoldingsChannel.com reports. The fund owned 11,342 shares of the social networking company’s stock after selling 61 shares during the period. Meta Platforms makes up 4.7% of Jericho Financial LLP’s holdings, making the stock its 3rd largest position. Jericho Financial LLP’s holdings in Meta Platforms were worth $6,537,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in META. Fjell Capital LLC acquired a new position in shares of Meta Platforms during the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $325,000. Daner Wealth Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $334,000. Brighton Jones LLC grew its holdings in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after buying an additional 570 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $112,406,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 8,312 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $702.13, for a total transaction of $5,836,104.56. Following the transaction, the chief executive officer now owns 88,372 shares of the company’s stock, valued at $62,048,632.36. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total value of $525,577.86. Following the transaction, the insider now directly owns 30,261 shares in the company, valued at $17,268,742.26. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,002 shares of company stock valued at $73,353,340. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $712.20 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market cap of $1.79 trillion, a P/E ratio of 27.78, a P/E/G ratio of 1.72 and a beta of 1.26. The business’s fifty day moving average is $625.25 and its two-hundred day moving average is $624.38. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.71 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Benchmark lowered their target price on Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Susquehanna lowered their target price on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on Meta Platforms from $675.00 to $735.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Truist Financial lifted their price objective on Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, 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 report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $712.69.

Check Out Our Latest Report on Meta Platforms

Meta Platforms Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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