Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Hudock Inc.

Hudock Inc. lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 13.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,371 shares of the social networking company’s stock after purchasing an additional 164 shares during the quarter. Hudock Inc.’s holdings in Meta Platforms were worth $666,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC raised its holdings in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Cranbrook Wealth Management LLC raised its holdings in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Gilfoyle & Co LLC purchased a new stake in Meta Platforms during the fourth quarter worth $39,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Meta Platforms in the first quarter valued at $44,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META stock opened at $530.00 on Wednesday. The firm has a market cap of $1.34 trillion, a P/E ratio of 30.44, a P/E/G ratio of 1.37 and a beta of 1.21. The firm has a fifty day moving average of $488.29 and a two-hundred day moving average of $464.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, research analysts anticipate that Meta Platforms, Inc. will post 20.15 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on META shares. Loop Capital reissued a “buy” rating and issued a $550.00 price objective on shares of Meta Platforms in a research note on Wednesday, July 3rd. Piper Sandler reiterated an “overweight” rating and issued a $545.00 price target (down from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Raymond James lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. Truist Financial lowered their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Citigroup cut their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $511.88.

Get Our Latest Stock Analysis on Meta Platforms

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 8,727 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $528.87, for a total transaction of $4,615,448.49. Following the sale, the chief executive officer now owns 178,099 shares in the company, valued at $94,191,218.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 8,727 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $528.87, for a total value of $4,615,448.49. Following the sale, the chief executive officer now directly owns 178,099 shares in the company, valued at $94,191,218.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The disclosure for this sale can be found here. In the last three months, insiders have sold 260,459 shares of company stock worth $128,049,749. 13.71% of the stock is currently owned by insiders.

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

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

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