Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Roanoke Asset Management Corp NY

Roanoke Asset Management Corp NY lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,176 shares of the social networking company’s stock after selling 51 shares during the quarter. Meta Platforms accounts for about 3.2% of Roanoke Asset Management Corp NY’s portfolio, making the stock its 6th largest holding. Roanoke Asset Management Corp NY’s holdings in Meta Platforms were worth $9,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baird Financial Group Inc. increased its stake in shares of Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after purchasing an additional 163,067 shares in the last quarter. California State Teachers Retirement System increased its stake in Meta Platforms by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after buying an additional 51,900 shares in the last quarter. Donoghue Forlines LLC increased its stake in Meta Platforms by 94.4% during the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after buying an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Meta Platforms by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP increased its stake in Meta Platforms by 37.3% during the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after buying an additional 140,000 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock traded up $14.19 during mid-day trading on Thursday, hitting $476.18. 18,732,182 shares of the stock were exchanged, compared to its average volume of 16,269,296. The stock’s fifty day simple moving average is $493.38 and its two-hundred day simple moving average is $469.42. The stock has a market capitalization of $1.21 trillion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, analysts forecast that Meta Platforms, Inc. will post 20.21 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Analysts Set New Price Targets

META has been the subject of several research reports. BNP Paribas initiated coverage on Meta Platforms in a research note on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective for the company. Rosenblatt Securities upped their price target on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Robert W. Baird dropped their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. TD Cowen upped their price target on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Roth Mkm upped their price target on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-six have issued a buy rating and two have issued 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 target price of $518.50.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $501.18, for a total transaction of $245,578.20. Following the completion of the sale, the chief operating officer now owns 7,089 shares in the company, valued at $3,552,865.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jennifer Newstead sold 576 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $466.33, for a total value of $268,606.08. Following the completion of the sale, the insider now owns 36,067 shares in the company, valued at $16,819,124.11. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $501.18, for a total transaction of $245,578.20. Following the completion of the sale, the chief operating officer now owns 7,089 shares of the company’s stock, valued at approximately $3,552,865.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,596 shares of company stock worth $154,788,523. Company insiders own 13.71% of the company’s stock.

Meta Platforms Company Profile

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.