Meta Platforms, Inc. (NASDAQ:META) Position Reduced by Czech National Bank

Czech National Bank decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 387,147 shares of the social networking company's stock after selling 1,604 shares during the period. Meta Platforms makes up about 2.4% of Czech National Bank's investment portfolio, making the stock its 5th largest position. Czech National Bank's holdings in Meta Platforms were worth $187,991,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Stone House Investment Management LLC raised its stake in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock valued at $26,000 after purchasing an additional 75 shares during the period. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC raised its stake in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth $39,000. Finally, Cranbrook Wealth Management LLC increased its stake in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock worth $36,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Price Performance

NASDAQ:META traded up $2.21 during midday trading on Thursday, hitting $501.70. 11,781,747 shares of the stock were exchanged, compared to its average volume of 16,566,742. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49. The business has a 50-day moving average price of $479.38 and a two-hundred day moving average price of $445.90. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) 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 analysts' expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Sell-side analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms's dividend payout ratio is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business's stock in a transaction on Friday, June 14th. The shares were sold at an average price of $503.34, for a total transaction of $8,406,784.68. Following the sale, the chief executive officer now directly owns 275,297 shares of the company's stock, valued at approximately $138,567,991.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business's stock in a transaction on Friday, June 14th. The shares were sold at an average price of $503.34, for a total transaction of $8,406,784.68. Following the sale, the chief executive officer now directly owns 275,297 shares of the company's stock, valued at approximately $138,567,991.98. The sale 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 business's stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following 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. Over the last 90 days, insiders have sold 391,071 shares of company stock valued at $192,834,857. Corporate insiders own 13.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Guggenheim dropped their price target on shares of Meta Platforms from $520.00 to $500.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. BMO Capital Markets restated a "market perform" rating and issued a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Piper Sandler restated an "overweight" rating and issued a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Truist Financial dropped their price target on shares of Meta Platforms from $550.00 to $535.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Finally, Wolfe Research dropped their price target on shares of Meta Platforms from $530.00 to $500.00 and set an "outperform" rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $510.05.

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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