3,743 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Duality Advisers LP

Duality Advisers LP acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,743 shares of the social networking company’s stock, valued at approximately $1,818,000.

Other hedge funds have also bought and sold shares of the company. Raleigh Capital Management Inc. raised its holdings in shares of Meta Platforms by 180.1% in the third quarter. Raleigh Capital Management Inc. now owns 902 shares of the social networking company’s stock worth $271,000 after buying an additional 580 shares during the period. Canandaigua National Bank & Trust Co. grew its position in Meta Platforms by 7.6% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 5,860 shares of the social networking company’s stock valued at $2,074,000 after acquiring an additional 413 shares during the last quarter. CGN Advisors LLC increased its stake in Meta Platforms by 153.2% in the fourth quarter. CGN Advisors LLC now owns 5,756 shares of the social networking company’s stock worth $2,037,000 after purchasing an additional 3,483 shares during the period. Capital Investment Advisors LLC lifted its position in shares of Meta Platforms by 46.5% during the fourth quarter. Capital Investment Advisors LLC now owns 11,786 shares of the social networking company’s stock worth $4,172,000 after purchasing an additional 3,742 shares during the last quarter. Finally, Montecito Bank & Trust boosted its stake in shares of Meta Platforms by 3.7% during the fourth quarter. Montecito Bank & Trust now owns 3,634 shares of the social networking company’s stock valued at $1,286,000 after purchasing an additional 129 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the transaction, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total transaction of $483,224.75. Following the completion of the sale, the insider now owns 36,940 shares in the company, valued at approximately $19,724,113. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at $7,268,235.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 294,278 shares of company stock valued at $146,060,559. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $498.87 on Friday. The business’s fifty day moving average price is $492.56 and its 200 day moving average price is $466.00. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.27 trillion, a PE ratio of 28.65, a P/E/G ratio of 1.33 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.19 EPS for the current year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen raised their price target on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday. Loop Capital reaffirmed a “buy” rating and set a $550.00 target price on shares of Meta Platforms in a research report on Wednesday, July 3rd. Stifel Nicolaus boosted 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. Royal Bank of Canada reduced their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Wedbush lowered their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $515.64.

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.