Tounjian Advisory Partners LLC Buys Shares of 18,580 Meta Platforms, Inc. (NASDAQ:META)

Tounjian Advisory Partners LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 18,580 shares of the social networking company’s stock, valued at approximately $10,710,000. Meta Platforms accounts for about 2.0% of Tounjian Advisory Partners LLC’s portfolio, making the stock its 7th biggest holding.

Several other large investors also recently bought and sold shares of the company. Northstar Advisory Group LLC grew its holdings in Meta Platforms by 8.0% in the first quarter. Northstar Advisory Group LLC now owns 8,125 shares of the social networking company’s stock valued at $4,683,000 after purchasing an additional 600 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Meta Platforms by 14.8% during the first quarter. Pallas Capital Advisors LLC now owns 22,934 shares of the social networking company’s stock valued at $13,218,000 after acquiring an additional 2,950 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Meta Platforms by 35.8% during the first quarter. Farther Finance Advisors LLC now owns 30,837 shares of the social networking company’s stock valued at $18,071,000 after acquiring an additional 8,134 shares during the last quarter. Rheos Capital Works Inc. boosted its stake in shares of Meta Platforms by 80.0% during the first quarter. Rheos Capital Works Inc. now owns 67,500 shares of the social networking company’s stock valued at $38,904,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its stake in shares of Meta Platforms by 2.5% during the first quarter. Daymark Wealth Partners LLC now owns 11,314 shares of the social networking company’s stock valued at $6,521,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total value of $577,513.05. Following the completion of the sale, the insider now directly owns 31,182 shares in the company, valued at approximately $19,552,673.10. The trade was a 2.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 406 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares of the company’s stock, valued at $2,265,707.52. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,104 shares of company stock worth $35,270,242 in the last 90 days. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $694.06 on Tuesday. The company has a market cap of $1.75 trillion, a P/E ratio of 29.02, a PEG ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The business’s 50-day simple moving average is $589.87 and its 200 day simple moving average is $616.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the firm earned $4.71 EPS. Meta Platforms’s quarterly revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Analysts Set New Price Targets

A number of analysts recently commented on META shares. Truist Financial increased their price objective on Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Oppenheimer increased their price objective on Meta Platforms from $650.00 to $665.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Cantor Fitzgerald increased their price objective on Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, Roth Capital raised their price target on Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $702.48.

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.