Tufton Capital Management Has $788,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Posted by Max Byerly on Apr 18th, 2024

Tufton Capital Management decreased its stake in Meta Platforms, Inc. (NASDAQ:META – christianslouboutins.com
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weight:normal;text-decoration:italic;color:green” href=”https://www.marketbeat.com/arnreports/ReportTickerOptin.aspx?RegistrationCode=TickerHyperlink&Prefix=NASDAQ&Symbol=META”>Free Report) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,225 shares of the social networking company’s stock after selling 235 shares during the quarter. Tufton Capital Management’s holdings in Meta Platforms were worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC raised its position in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the period. Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $39,000. Cranbrook Wealth Management LLC raised its position in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Beaird Harris Wealth Management LLC raised its position in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the period. Finally, Stephens Investment Management Group LLC bought a new position in shares of Meta Platforms during the second quarter worth about $30,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on META shares. Canaccord Genuity Group increased their price objective on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on Meta Platforms from $450.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Raymond James increased their price objective on Meta Platforms from $450.00 to $550.00 and gave the stock a “strong-buy” rating in a report on Friday, February 2nd. Evercore ISI raised their price target on Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Wolfe Research raised their price target on Meta Platforms from $430.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $519.53.

Check Out Our Latest Research Report on Meta Platforms

Insider Activity

In other news, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction on Friday, January 19th. The stock was sold at an average price of $381.77, for a total value of $7,513,615.37. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $381.77, for a total value of $7,513,615.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,440,278 shares of company stock worth $684,796,490. Insiders own 13.75% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META traded up $14.10 during midday trading on Thursday, hitting $508.27. The company had a trading volume of 6,935,444 shares, compared to its average volume of 16,938,342. The company has a market capitalization of $1.30 trillion, a PE ratio of 34.20, a P/E/G ratio of 1.28 and a beta of 1.20. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $493.65 and a 200-day moving average price of $396.70. Meta Platforms, Inc. has a twelve month low of $207.13 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same quarter last year, the company posted $3.00 EPS. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. As a group, analysts anticipate that Meta Platforms, Inc. will post 20.06 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s payout ratio is 13.42%.

Meta Platforms Profile

(Free Report)

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.