6,000 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Hhlr Advisors LTD.

Hhlr Advisors LTD. purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, Holdings Channel reports. The firm purchased 6,000 shares of the social networking company’s stock, valued at approximately $2,913,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Evergreen Quality Fund GP Ltd. bought a new stake in shares of Meta Platforms during the 1st quarter worth approximately $63,708,000. Cloverfields Capital Group LP raised its position in Meta Platforms by 2.5% during the first quarter. Cloverfields Capital Group LP now owns 16,053 shares of the social networking company’s stock worth $7,795,000 after acquiring an additional 390 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in Meta Platforms by 6.4% in the first quarter. Gamco Investors INC. ET AL now owns 57,803 shares of the social networking company’s stock valued at $28,068,000 after acquiring an additional 3,484 shares during the last quarter. Stonebridge Capital Advisors LLC grew its position in shares of Meta Platforms by 0.3% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 59,254 shares of the social networking company’s stock valued at $28,773,000 after acquiring an additional 184 shares during the period. Finally, Brant Point Investment Management LLC raised its holdings in shares of Meta Platforms by 96.4% in the 1st quarter. Brant Point Investment Management LLC now owns 19,249 shares of the social networking company’s stock valued at $9,347,000 after purchasing an additional 9,449 shares during the period. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

META has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Truist Financial dropped their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company raised their price target on Meta Platforms from $593.00 to $625.00 and gave the company an “overweight” rating in a report on Monday, July 8th. JPMorgan Chase & Co. decreased their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $525.66.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Nicholas Clegg sold 1,135 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $535,549.75. Following the transaction, the insider now owns 8,753 shares in the company, valued at $4,130,103.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold 311,348 shares of company stock worth $154,678,120 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock traded up $12.29 on Friday, hitting $465.70. 14,222,388 shares of the company’s stock were exchanged, compared to its average volume of 13,931,730. The company has a 50 day moving average of $493.20 and a 200 day moving average of $475.36. The stock has a market cap of $1.18 trillion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 1.17 and a beta of 1.21. 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 12 month low of $274.38 and a 12 month high of $542.81.

Meta Platforms (NASDAQ:META) last posted 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 firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities research analysts predict that Meta Platforms, Inc. will post 20.23 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

About Meta Platforms

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.