Hedeker Wealth LLC Invests $3.33 Million in Meta Platforms, Inc. (NASDAQ:META)

Hedeker Wealth LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 6,850 shares of the social networking company’s stock, valued at approximately $3,326,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baird Financial Group Inc. lifted its stake in Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after buying an additional 163,067 shares in the last quarter. California State Teachers Retirement System lifted its stake in Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after buying an additional 51,900 shares in the last quarter. Donoghue Forlines LLC raised its holdings in Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after acquiring an additional 4,054 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Meta Platforms by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after acquiring an additional 32,423 shares during the last quarter. Finally, Voyager Global Management LP raised its holdings in Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after acquiring an additional 140,000 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $509.96 on Thursday. The company’s fifty day moving average price is $481.05 and its 200 day moving average price is $458.42. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a market capitalization of $1.29 trillion, a P/E ratio of 29.29, a P/E/G ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.39%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Ratings Changes

A number of analysts have commented on META shares. Truist Financial cut their price objective on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company cut their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. JMP Securities reiterated a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a report on Monday, April 22nd. Barclays cut their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, TD Cowen cut their price target on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold 252,395 shares of company stock worth $123,781,816 in the last ninety days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms 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.