Meta Platforms, Inc. $META Position Raised by Mizuho Markets Cayman LP

Mizuho Markets Cayman LP grew its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 97.3% during the 4th quarter, HoldingsChannel reports. The firm owned 356,528 shares of the social networking company’s stock after buying an additional 175,807 shares during the quarter. Meta Platforms accounts for about 11.9% of Mizuho Markets Cayman LP’s investment portfolio, making the stock its 2nd biggest holding. Mizuho Markets Cayman LP’s holdings in Meta Platforms were worth $235,341,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC raised its stake in shares of Meta Platforms by 34.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 52,252 shares of the social networking company’s stock worth $38,373,000 after buying an additional 13,311 shares during the period. Keybank National Association OH raised its stake in shares of Meta Platforms by 15.7% during the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock worth $88,319,000 after buying an additional 18,169 shares during the period. Becker Capital Management Inc. raised its stake in shares of Meta Platforms by 5.0% during the 3rd quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock worth $25,741,000 after buying an additional 1,657 shares during the period. Diversified Trust Co. raised its stake in shares of Meta Platforms by 4.1% during the 4th quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock worth $55,487,000 after buying an additional 3,336 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC raised its stake in shares of Meta Platforms by 16.2% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock worth $5,091,000 after buying an additional 968 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $632.51 on Monday. The business has a fifty day moving average price of $617.84 and a 200 day moving average price of $636.92. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market cap of $1.60 trillion, a P/E ratio of 22.99, a P/E/G ratio of 1.12 and a beta of 1.23.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating the consensus estimate of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. During the same period in the prior year, the company earned $6.43 EPS. The firm’s revenue was up 33.1% compared to the same quarter last year. Research analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, June 15th. Meta Platforms’s dividend payout ratio is presently 7.63%.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Sanford C. Bernstein reduced their target price on Meta Platforms from $900.00 to $850.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. KeyCorp reaffirmed an “overweight” rating and set a $760.00 target price on shares of Meta Platforms in a research note on Thursday, April 30th. Wells Fargo & Company reduced their target price on Meta Platforms from $770.00 to $765.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $810.00 target price on shares of Meta Platforms in a research note on Thursday, April 30th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $900.00 target price on shares of Meta Platforms in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $840.19.

Get Our Latest Stock Analysis on Meta Platforms

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 837 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $608.98, for a total value of $509,716.26. Following the completion of the sale, the chief operating officer directly owned 13,823 shares in the company, valued at $8,417,930.54. This represents a 5.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,847 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the sale, the chief technology officer owned 414 shares of the company’s stock, valued at approximately $251,641.62. The trade was a 94.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 40,890 shares of company stock valued at $25,315,558 in the last quarter. Corporate insiders own 13.53% of the company’s stock.

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

See Also

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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