982 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Citrine Capital LLC

Citrine Capital LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the first quarter, HoldingsChannel.com reports. The fund acquired 982 shares of the social networking company’s stock, valued at approximately $566,000. Meta Platforms comprises about 0.4% of Citrine Capital LLC’s holdings, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in META. Inlight Wealth Management LLC acquired a new position in Meta Platforms during the first quarter worth $25,000. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the 4th quarter worth $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the 4th quarter valued at about $45,000. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $47,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META stock opened at $708.68 on Thursday. The company has a market cap of $1.78 trillion, a P/E ratio of 27.64, a PEG ratio of 1.75 and a beta of 1.26. The firm has a fifty day moving average price of $629.38 and a 200 day moving average price of $624.96. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $491.87, for a total value of $453,012.27. Following the completion of the sale, the insider now directly owns 27,498 shares of the company’s stock, valued at approximately $13,525,441.26. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $563.03, for a total value of $342,322.24. Following the transaction, the chief operating officer now owns 6,230 shares in the company, valued at $3,507,676.90. This represents a 8.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,312 shares of company stock worth $83,503,034 over the last three months. Insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. Scotiabank reduced their price target on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a research report on Monday, April 21st. Susquehanna decreased their price objective on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities raised their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Oppenheimer lifted their target price on Meta Platforms from $665.00 to $775.00 and gave the company an “outperform” rating in a research report on Monday, June 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $712.69.

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.