Meta Platforms, Inc. (NASDAQ:META) is Zullo Investment Group Inc.’s 5th Largest Position

Zullo Investment Group Inc. lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,084 shares of the social networking company’s stock after selling 432 shares during the period. Meta Platforms makes up 3.2% of Zullo Investment Group Inc.’s holdings, making the stock its 5th biggest position. Zullo Investment Group Inc.’s holdings in Meta Platforms were worth $7,541,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of META. Inlight Wealth Management LLC purchased a new stake in Meta Platforms during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the 1st quarter worth $28,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter worth $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the 4th quarter worth $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms during the 4th quarter worth $45,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other news, CEO Mark Zuckerberg sold 13,793 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the sale, the chief executive officer owned 118,279 shares of the company’s stock, valued at approximately $82,928,955.27. This represents a 10.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer owned 70,040 shares of the company’s stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,764 shares of company stock valued at $105,721,208. Insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META opened at $701.41 on Friday. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market cap of $1.76 trillion, a PE ratio of 27.36, a P/E/G ratio of 1.72 and a beta of 1.28. The stock has a 50 day moving average price of $683.85 and a 200 day moving average price of $637.15.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the company posted $4.71 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on META. Evercore ISI lifted their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Truist Financial lifted their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Oppenheimer boosted their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the company an “outperform” rating in a report on Monday, June 16th. Finally, Raymond James Financial cut their price target on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $736.05.

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.