Advanced Portfolio Management LLC Acquires 2,509 Shares of Meta Platforms, Inc. $META

Advanced Portfolio Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6,969.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,545 shares of the social networking company’s stock after acquiring an additional 2,509 shares during the quarter. Meta Platforms accounts for approximately 5.1% of Advanced Portfolio Management LLC’s portfolio, making the stock its 3rd largest position. Advanced Portfolio Management LLC’s holdings in Meta Platforms were worth $1,680,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Alight Capital Management LP lifted its holdings in Meta Platforms by 166.7% in the fourth quarter. Alight Capital Management LP now owns 40,000 shares of the social networking company’s stock valued at $26,404,000 after buying an additional 25,000 shares during the period. Align Financial LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $483,773,000. 14B Captial Management LP acquired a new position in Meta Platforms in the fourth quarter valued at approximately $6,205,000. 3G Capital Partners LP lifted its holdings in Meta Platforms by 12.5% in the fourth quarter. 3G Capital Partners LP now owns 90,000 shares of the social networking company’s stock valued at $59,408,000 after buying an additional 10,000 shares during the period. Finally, Redwood Park Advisors LLC lifted its holdings in Meta Platforms by 5.1% in the fourth quarter. Redwood Park Advisors LLC now owns 18,997 shares of the social networking company’s stock valued at $12,540,000 after buying an additional 929 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META opened at $567.58 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25. The firm’s 50 day moving average price is $621.93 and its two-hundred day moving average price is $635.05. The firm has a market cap of $1.44 trillion, a P/E ratio of 20.63, a PEG ratio of 1.06 and a beta of 1.23.

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

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. Meta Platforms’s payout ratio is presently 7.63%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 7,847 shares of Meta Platforms stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer owned 414 shares of the company’s stock, valued at approximately $251,641.62. The trade was a 94.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Susan J. Li sold 9,195 shares of Meta Platforms stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $8,014,978.24. The trade was a 41.08% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 40,568 shares of company stock worth $25,057,365. Corporate insiders own 13.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Guggenheim reduced their price objective on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. BNP Paribas Exane started coverage on shares of Meta Platforms in a research report on Tuesday, June 2nd. They set an “outperform” rating on the stock. Arete Research set a $735.00 price target on shares of Meta Platforms and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Piper Sandler began coverage on shares of Meta Platforms in a research report on Tuesday, June 2nd. They issued an “overweight” rating for the company. Finally, Cantor Fitzgerald lowered their price objective on shares of Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $840.60.

Get Our Latest Stock Report on Meta Platforms

Key Headlines Impacting Meta Platforms

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

Meta Platforms Company 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.

See Also

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)

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.