LM Advisors LLC Acquires New Shares in Meta Platforms, Inc. (NASDAQ:META)

LM Advisors LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,240 shares of the social networking company's stock, valued at approximately $5,394,000. Meta Platforms makes up approximately 1.1% of LM Advisors LLC's investment portfolio, making the stock its 17th biggest holding.

Several other hedge funds also recently bought and sold shares of META. Addison Advisors LLC raised its position in shares of Meta Platforms by 3.9% in the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company's stock valued at $237,000 after purchasing an additional 25 shares during the period. Smithfield Trust Co boosted its holdings in shares of Meta Platforms by 0.5% during the fourth quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company's stock worth $1,730,000 after acquiring an additional 25 shares during the period. American National Bank grew its position in shares of Meta Platforms by 1.6% in the fourth quarter. American National Bank now owns 1,590 shares of the social networking company's stock valued at $563,000 after purchasing an additional 25 shares during the last quarter. WoodTrust Financial Corp lifted its holdings in Meta Platforms by 1.8% during the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company's stock worth $548,000 after purchasing an additional 27 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners boosted its stake in Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company's stock valued at $1,616,000 after purchasing an additional 27 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Up 1.0 %

Shares of Meta Platforms stock traded up $4.87 during trading hours on Tuesday, reaching $507.47. The company's stock had a trading volume of 9,663,183 shares, compared to its average volume of 16,844,828. The company has a market capitalization of $1.29 trillion, a P/E ratio of 29.15, a P/E/G ratio of 1.28 and a beta of 1.21. The stock's fifty day simple moving average is $480.95 and its two-hundred day simple moving average is $439.43. Meta Platforms, Inc. has a one year low of $265.33 and a one year high of $531.49. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during 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%. On average, research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, June 14th. Meta Platforms's payout ratio is currently 11.49%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Sanford C. Bernstein lowered their target price on shares of Meta Platforms from $590.00 to $565.00 and set an "outperform" rating on the stock in a report on Thursday, April 25th. Canaccord Genuity Group cut their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company decreased their target price on shares of Meta Platforms from $609.00 to $600.00 and set an "overweight" rating on the stock in a report on Wednesday, April 3rd. Loop Capital cut their price target on shares of Meta Platforms from $555.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, May 1st. Finally, Roth Mkm lifted their price objective on shares of Meta Platforms from $500.00 to $510.00 and gave the company a "buy" rating in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $510.41.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Mark Zuckerberg sold 2,011 shares of the company's stock in a transaction that occurred on 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 owns 318,932 shares in the company, valued at $159,759,417.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Insiders sold a total of 575,235 shares of company stock worth $283,074,260 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

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.

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