TBH Global Asset Management LLC Purchases 1,728 Shares of Meta Platforms, Inc. (NASDAQ:META)

TBH Global Asset Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,236 shares of the social networking company’s stock after purchasing an additional 1,728 shares during the quarter. Meta Platforms makes up about 1.0% of TBH Global Asset Management LLC’s investment portfolio, making the stock its 20th largest position. TBH Global Asset Management LLC’s holdings in Meta Platforms were worth $4,970,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $32,000. Clear Investment Research LLC grew its position in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Gilfoyle & Co LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $39,000. Finally, Richardson Financial Services Inc. grew its position in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ META traded up $2.04 on Friday, hitting $477.89. 9,374,850 shares of the company traded hands, compared to its average volume of 16,223,213. The company has a market capitalization of $1.21 trillion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 1.20 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average price is $493.39 and its 200-day moving average price is $469.46. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts expect that Meta Platforms, Inc. will post 20.21 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wedbush reduced their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. TD Securities increased their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Jefferies Financial Group dropped their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Citigroup dropped their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Wolfe Research assumed coverage on Meta Platforms in a report on Tuesday. They issued an “outperform” rating and a $620.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $519.10.

Insider Activity

In other news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the transaction, the insider now owns 37,228 shares in the company, valued at $18,288,255. The disclosure for this sale can be found here. Insiders have sold 311,106 shares of company stock worth $154,542,945 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms 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.