Meta Platforms, Inc. $META Shares Bought by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd grew its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 57.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,904 shares of the social networking company’s stock after purchasing an additional 1,430 shares during the quarter. Meta Platforms accounts for 0.7% of BOCHK Asset Management Ltd’s portfolio, making the stock its 12th largest position. BOCHK Asset Management Ltd’s holdings in Meta Platforms were worth $2,577,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. IRON Financial LLC increased its position in shares of Meta Platforms by 15.0% during the 4th quarter. IRON Financial LLC now owns 1,300 shares of the social networking company’s stock valued at $858,000 after purchasing an additional 170 shares during the period. Yoder Wealth Management Inc. boosted its stake in shares of Meta Platforms by 3.8% during the 4th quarter. Yoder Wealth Management Inc. now owns 1,827 shares of the social networking company’s stock worth $1,206,000 after acquiring an additional 67 shares in the last quarter. Trilogy Capital Inc. boosted its stake in shares of Meta Platforms by 21.5% during the 4th quarter. Trilogy Capital Inc. now owns 7,847 shares of the social networking company’s stock worth $5,180,000 after acquiring an additional 1,387 shares in the last quarter. NRI Wealth Management LC boosted its stake in shares of Meta Platforms by 2.7% during the 4th quarter. NRI Wealth Management LC now owns 7,619 shares of the social networking company’s stock worth $5,029,000 after acquiring an additional 200 shares in the last quarter. Finally, Flagship Capital Management Inc. bought a new stake in shares of Meta Platforms during the 4th quarter worth $4,565,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the transaction, the chief operating officer directly owned 10,557 shares in the company, valued at $6,645,103.65. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 8,089 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $631.24, for a total value of $5,106,100.36. Following the transaction, the chief technology officer owned 2,841 shares in the company, valued at $1,793,352.84. This represents a 74.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 165,079 shares of company stock worth $105,624,755. Company insiders own 13.61% of the company’s stock.

Meta Platforms Stock Up 1.7%

META stock opened at $688.55 on Friday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The company has a fifty day simple moving average of $627.49 and a 200 day simple moving average of $651.26. The firm has a market cap of $1.74 trillion, a PE ratio of 29.30, a PEG ratio of 1.05 and a beta of 1.31.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. The company had revenue of $59.89 billion during the quarter, compared to analysts’ expectations of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.02 earnings per share. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were paid a $0.525 dividend. The ex-dividend date was Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s payout ratio is presently 8.94%.

Wall Street Analyst Weigh In

META has been the subject of several research reports. Robert W. Baird raised their price objective on Meta Platforms from $815.00 to $830.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Bank of America raised their price objective on Meta Platforms from $810.00 to $885.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Jefferies Financial Group raised their price objective on Meta Platforms from $910.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Raymond James Financial reduced their price objective on Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating for the company in a research note on Monday, January 26th. Finally, Erste Group Bank lowered Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $837.72.

View Our Latest Report on META

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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.

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

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