Bridge Advisory LLC Acquires New Holdings in Meta Platforms, Inc. (NASDAQ:META)

Bridge Advisory LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, HoldingsChannel reports. The firm purchased 552 shares of the social networking company’s stock, valued at approximately $268,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. S.A. Mason LLC grew its stake in Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. LongView Wealth Management grew its stake in Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares in the last quarter. Madison Wealth Partners Inc grew its stake in Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after acquiring an additional 23 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. grew its stake in Meta Platforms by 1.9% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock valued at $648,000 after acquiring an additional 23 shares in the last quarter. Finally, Monterey Private Wealth Inc. grew its stake in Meta Platforms by 1.8% during the 1st quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock valued at $670,000 after acquiring an additional 24 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

META opened at $504.22 on Friday. The stock has a market cap of $1.28 trillion, a PE ratio of 28.96, a P/E/G ratio of 1.35 and a beta of 1.21. 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, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The stock’s 50 day simple moving average is $480.00 and its 200-day simple moving average is $453.93.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 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 forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on META shares. Truist Financial lowered their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. BNP Paribas initiated coverage on Meta Platforms in a research note on Thursday, May 2nd. They set an “underperform” rating and a $360.00 target price on the stock. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Wedbush reduced their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Stifel Nicolaus lifted their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Two research 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $510.05.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the company’s 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 directly owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the company’s 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 directly owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on 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 sale, the insider now owns 38,983 shares in the company, valued at $18,906,755. The disclosure for this sale can be found here. Insiders have sold 233,512 shares of company stock worth $113,597,536 over the last three months. Company insiders own 13.71% of the company’s stock.

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.