Bourgeon Capital Management LLC Buys 240 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bourgeon Capital Management LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 3,000.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 248 shares of the social networking company’s stock after purchasing an additional 240 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Meta Platforms were worth $88,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC grew its holdings in shares of Meta Platforms by 625.0% during the 3rd 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 in the last quarter. Gilfoyle & Co LLC acquired a new stake in Meta Platforms during the fourth quarter worth $39,000. Cranbrook Wealth Management LLC increased its holdings in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Beaird Harris Wealth Management LLC lifted its holdings in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $364.99, for a total transaction of $7,183,368.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $364.99, for a total value of $7,183,368.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders sold a total of 1,459,469 shares of company stock valued at $691,726,161 in the last 90 days. Corporate insiders own 14.03% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $499.47 on Tuesday. Meta Platforms, Inc. has a 1 year low of $207.13 and a 1 year high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The company’s 50 day simple moving average is $492.26 and its 200 day simple moving average is $394.61. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 1.31 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced 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. The company had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm’s revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.00 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 20.06 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. Meta Platforms’s dividend payout ratio is currently 13.42%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Oppenheimer increased their price objective on Meta Platforms from $525.00 to $585.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. The Goldman Sachs Group boosted their target price on Meta Platforms from $500.00 to $555.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial lifted their price objective on Meta Platforms from $405.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Jefferies Financial Group raised their target price on shares of Meta Platforms from $550.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.28.

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.