CVA Family Office LLC Boosts Position in Meta Platforms, Inc. (NASDAQ:META)

CVA Family Office LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.4% in the first quarter, Holdings Channel reports. The institutional investor owned 5,097 shares of the social networking company’s stock after buying an additional 120 shares during the quarter. CVA Family Office LLC’s holdings in Meta Platforms were worth $2,938,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in META. Fjell Capital LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $325,000. Daner Wealth Management LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $334,000. Brighton Jones LLC boosted its position in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after acquiring an additional 570 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $112,406,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 1,462 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $701.13, for a total value of $1,025,052.06. Following the sale, the chief executive officer now directly owns 139,538 shares of the company’s stock, valued at approximately $97,834,277.94. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares in the company, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,201 shares of company stock valued at $56,377,837 over the last ninety days. Company insiders own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on META. Rosenblatt Securities boosted their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Loop Capital boosted their target price on Meta Platforms from $695.00 to $888.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Stifel Nicolaus boosted their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. DA Davidson dropped their target price on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $676.00 target price on shares of Meta Platforms in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $704.26.

Meta Platforms Price Performance

Shares of META stock opened at $682.87 on Friday. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.42 and a beta of 1.26. The business’s fifty day moving average is $604.07 and its 200 day moving average is $619.60. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.71 earnings per share. Research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms’s payout ratio is 8.19%.

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.