Capital Management Associates NY Acquires Shares of 3,500 Meta Platforms, Inc. (NASDAQ:META)

Capital Management Associates NY bought a new position in Meta Platforms, Inc. (NASDAQ:META) in the 1st quarter, Holdings Channel.com reports. The firm bought 3,500 shares of the social networking company’s stock, valued at approximately $1,700,000. Meta Platforms makes up 2.0% of Capital Management Associates NY’s portfolio, making the stock its 14th biggest holding.

Other large investors have also modified their holdings of the company. Signaturefd LLC increased its position in shares of Meta Platforms by 2.4% during the first quarter. Signaturefd LLC now owns 52,920 shares of the social networking company’s stock worth $25,697,000 after acquiring an additional 1,239 shares during the last quarter. Embree Financial Group increased its holdings in Meta Platforms by 2.8% during the 1st quarter. Embree Financial Group now owns 1,490 shares of the social networking company’s stock worth $723,000 after purchasing an additional 40 shares during the last quarter. CV Advisors LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at approximately $242,000. Clarity Capital Partners LLC raised its position in shares of Meta Platforms by 26.8% in the 1st quarter. Clarity Capital Partners LLC now owns 976 shares of the social networking company’s stock valued at $474,000 after purchasing an additional 206 shares in the last quarter. Finally, Catalina Capital Group LLC boosted its stake in shares of Meta Platforms by 108.1% during the 1st quarter. Catalina Capital Group LLC now owns 8,975 shares of the social networking company’s stock valued at $4,358,000 after buying an additional 4,662 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $512.70 on Friday. The firm has a market cap of $1.30 trillion, a P/E ratio of 29.45, a PEG ratio of 1.39 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $542.81. The stock’s 50-day moving average is $491.62 and its two-hundred day moving average is $464.99.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Analysts predict that Meta Platforms, Inc. will post 20.19 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total transaction of $483,224.75. Following the transaction, the insider now owns 36,940 shares in the company, valued at $19,724,113. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total value of $483,224.75. Following the transaction, the insider now directly owns 36,940 shares in the company, valued at approximately $19,724,113. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction that occurred on 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 directly owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 294,278 shares of company stock worth $146,060,559. 13.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

META has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada decreased their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Raymond James increased their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. JMP Securities restated a “market outperform” rating and set a $550.00 price objective on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, Wells Fargo & Company increased their target price on Meta Platforms from $593.00 to $625.00 and gave the stock an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $515.64.

Meta Platforms 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.