14B Captial Management LP Acquires Shares of 9,400 Meta Platforms, Inc. $META

14B Captial Management LP acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,400 shares of the social networking company’s stock, valued at approximately $6,205,000. Meta Platforms comprises 5.0% of 14B Captial Management LP’s holdings, making the stock its 6th largest position.

A number of other institutional investors have also modified their holdings of META. Keybank National Association OH lifted its stake in Meta Platforms by 15.7% during the fourth quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock worth $88,319,000 after purchasing an additional 18,169 shares in the last quarter. Becker Capital Management Inc. lifted its stake in Meta Platforms by 5.0% during the third quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock worth $25,741,000 after purchasing an additional 1,657 shares in the last quarter. Diversified Trust Co. lifted its stake in Meta Platforms by 4.1% during the fourth quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock worth $55,487,000 after purchasing an additional 3,336 shares in the last quarter. Cramer Rosenthal Mcglynn LLC lifted its stake in Meta Platforms by 16.2% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock worth $5,091,000 after purchasing an additional 968 shares in the last quarter. Finally, Consolidated Investment Group LLC lifted its stake in Meta Platforms by 61.2% during the fourth quarter. Consolidated Investment Group LLC now owns 7,900 shares of the social networking company’s stock worth $5,215,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $567.58 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25. The company has a market capitalization of $1.44 trillion, a PE ratio of 20.63, a P/E/G ratio of 1.06 and a beta of 1.23. The company has a fifty day moving average of $621.93 and a two-hundred day moving average of $635.05.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The company had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. During the same quarter in the prior year, the firm posted $6.43 earnings per share. Meta Platforms’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. Meta Platforms’s dividend payout ratio is 7.63%.

Wall Street Analyst Weigh In

A number of research firms have commented on META. Raymond James Financial upgraded Meta Platforms from an “underperform” rating to an “outperform” rating in a research note on Tuesday, June 2nd. Bank of America cut their price objective on Meta Platforms from $885.00 to $820.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,015.00 price objective on shares of Meta Platforms in a research report on Thursday, May 28th. Wolfe Research cut their price objective on Meta Platforms from $850.00 to $800.00 and set an “outperform” rating on the stock in a research report on Friday, April 10th. Finally, Roth Mkm reaffirmed a “buy” rating on shares of Meta Platforms in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $840.60.

Check Out Our Latest Analysis on Meta Platforms

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 140 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $600.00, for a total transaction of $84,000.00. Following the completion of the sale, the chief operating officer owned 12,846 shares in the company, valued at approximately $7,707,600. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the sale, the insider owned 1,118 shares of the company’s stock, valued at $681,890.56. This trade represents a 65.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 40,568 shares of company stock worth $25,057,365. Company insiders own 13.53% of the company’s stock.

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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

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