Dumont & Blake Investment Advisors LLC Purchases 76 Shares of Meta Platforms, Inc. (NASDAQ:META)

Dumont & Blake Investment Advisors LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,321 shares of the social networking company’s stock after acquiring an additional 76 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Meta Platforms were worth $2,098,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Capital World Investors boosted its stake in Meta Platforms by 2.5% in the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares during the period. Morgan Stanley boosted its stake in Meta Platforms by 3.4% in the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after purchasing an additional 1,184,978 shares during the period. Capital International Investors boosted its stake in Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the period. Finally, Norges Bank bought a new position in Meta Platforms in the 4th quarter worth about $11,285,855,000. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related 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 of the company’s stock, valued at $7,272,152.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 directly owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The disclosure for this sale can be found here. Insiders have sold a total of 201,557 shares of company stock valued at $97,894,296 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several analyst reports. Wells Fargo & Company cut their target price on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Truist Financial cut their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Robert W. Baird cut their price objective on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Sanford C. Bernstein cut their price objective on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two research 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $510.05.

Meta Platforms Price Performance

META opened at $504.22 on Monday. 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, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The stock has a market capitalization of $1.28 trillion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. The stock’s 50 day moving average price is $480.00 and its 200-day moving average price is $455.62.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

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

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.