Single Point Partners LLC Acquires 134 Shares of Meta Platforms, Inc. (NASDAQ:META)

Single Point Partners LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 18.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 859 shares of the social networking company’s stock after buying an additional 134 shares during the period. Single Point Partners LLC’s holdings in Meta Platforms were worth $495,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Priebe Wealth Holdings LLC lifted its holdings in Meta Platforms by 16.5% during the 1st quarter. Priebe Wealth Holdings LLC now owns 650 shares of the social networking company’s stock worth $375,000 after purchasing an additional 92 shares in the last quarter. Capital Investment Advisors LLC increased its position in shares of Meta Platforms by 9.1% during the first quarter. Capital Investment Advisors LLC now owns 27,213 shares of the social networking company’s stock valued at $15,685,000 after buying an additional 2,271 shares during the period. Hickory Point Bank & Trust increased its position in shares of Meta Platforms by 2.5% during the first quarter. Hickory Point Bank & Trust now owns 4,157 shares of the social networking company’s stock valued at $2,396,000 after buying an additional 100 shares during the period. Lloyd Advisory Services LLC. lifted its holdings in shares of Meta Platforms by 37.8% in the first quarter. Lloyd Advisory Services LLC. now owns 762 shares of the social networking company’s stock worth $439,000 after buying an additional 209 shares in the last quarter. Finally, Bennett Selby Investments LP boosted its position in shares of Meta Platforms by 0.8% in the first quarter. Bennett Selby Investments LP now owns 34,961 shares of the social networking company’s stock valued at $20,150,000 after acquiring an additional 289 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

META has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Pivotal Research dropped their price objective on Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, DA Davidson decreased their target price on Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $702.48.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total value of $547,995.00. Following the sale, the insider now owns 33,024 shares in the company, valued at $19,649,280. The trade was a 2.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,563 shares of company stock worth $34,793,185. Insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $697.71 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock’s fifty day moving average is $587.67 and its 200 day moving average is $615.55. The stock has a market cap of $1.75 trillion, a P/E ratio of 29.17, a P/E/G ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the firm earned $4.71 earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms’s payout ratio is presently 8.19%.

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.