DMC Group LLC Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

DMC Group LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,337 shares of the social networking company’s stock after purchasing an additional 373 shares during the quarter. Meta Platforms makes up about 2.2% of DMC Group LLC’s investment portfolio, making the stock its 4th largest position. DMC Group LLC’s holdings in Meta Platforms were worth $2,592,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms during the 1st quarter worth approximately $44,000. Clear Investment Research LLC grew its position in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Gilfoyle & Co LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $39,000. Finally, Cranbrook Wealth Management LLC grew its position in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders sold 251,905 shares of company stock valued at $123,528,726 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.1 %

META stock opened at $509.96 on Friday. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The business has a fifty day moving average price of $482.42 and a 200-day moving average price of $458.78. 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 stock has a market capitalization of $1.29 trillion, a P/E ratio of 29.29, a P/E/G ratio of 1.32 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Equities analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. BNP Paribas assumed coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price objective on the stock. Truist Financial cut their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Loop Capital reiterated a “buy” rating and issued a $550.00 price objective on shares of Meta Platforms in a research report on Wednesday. Finally, Roth Mkm lifted their price objective on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.

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.