Truvestments Capital LLC Acquires 318 Shares of Meta Platforms, Inc. (NASDAQ:META)

Truvestments Capital LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 27.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,485 shares of the social networking company’s stock after purchasing an additional 318 shares during the quarter. Truvestments Capital LLC’s holdings in Meta Platforms were worth $721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in Meta Platforms during the 4th quarter valued at about $11,285,855,000. International Assets Investment Management LLC raised its holdings in Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Capital Research Global Investors raised its holdings in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management lifted its position in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on META. BNP Paribas started coverage on Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target on the stock. Guggenheim dropped their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Citigroup decreased their price objective on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus raised their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Truist Financial cut their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company 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-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $525.66.

Meta Platforms Price Performance

NASDAQ META traded up $12.29 during trading on Friday, hitting $465.70. 14,222,388 shares of the stock traded hands, compared to its average volume of 13,931,730. The company has a market capitalization 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. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The firm has a 50-day simple moving average of $493.20 and a 200-day simple moving average of $475.36. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for 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%. As a group, analysts predict that Meta Platforms, Inc. will post 20.23 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 issued a $0.50 dividend. 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 0.43%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on 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 in the company, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,348 shares of company stock worth $154,678,120. 13.71% of the stock is currently owned by corporate insiders.

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.