AMI Investment Management Inc. lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 20.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,236 shares of the social networking company's stock after selling 2,591 shares during the period. Meta Platforms comprises approximately 1.8% of AMI Investment Management Inc.'s holdings, making the stock its 16th largest holding. AMI Investment Management Inc.'s holdings in Meta Platforms were worth $4,970,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Meta Platforms in the 1st quarter worth approximately $44,000. Clear Investment Research LLC boosted its position in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $39,000. Finally, Cranbrook Wealth Management LLC boosted its position in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently commented on META shares. Deutsche Bank Aktiengesellschaft dropped their price target on Meta Platforms from $540.00 to $500.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. KeyCorp boosted their price target on Meta Platforms from $475.00 to $540.00 and gave the stock an "overweight" rating in a research report on Thursday, June 20th. TD Cowen dropped their price target on Meta Platforms from $590.00 to $530.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. BNP Paribas started coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an "underperform" rating and a $360.00 price objective on the stock. Finally, UBS Group lowered their price objective on Meta Platforms from $610.00 to $575.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued 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, the company has an average rating of "Moderate Buy" and a consensus target price of $511.27.
Get Our Latest Research Report on META
Insider Buying and Selling at Meta Platforms
In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total value of $283,725.00. Following the completion of the transaction, the insider now owns 38,983 shares of the company's stock, valued at approximately $18,906,755. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total value of $283,725.00. Following the completion of the transaction, the insider now owns 38,983 shares of the company's stock, valued at approximately $18,906,755. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 490 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $516.51, for a total transaction of $253,089.90. Following the completion of the transaction, the chief operating officer now directly owns 8,069 shares of the company's stock, valued at approximately $4,167,719.19. The disclosure for this sale can be found here. Insiders sold 218,671 shares of company stock valued at $106,707,095 in the last 90 days. Insiders own 13.71% of the company's stock.
Meta Platforms Price Performance
Shares of META traded up $0.46 during midday trading on Monday, hitting $504.68. 10,320,893 shares of the company traded hands, compared to its average volume of 16,395,848. The firm has a 50 day moving average of $480.46 and a 200-day moving average of $456.83. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.31 and a beta of 1.21. 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 data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms's dividend payout ratio (DPR) is presently 11.49%.
Meta Platforms Profile
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Free Report)
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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