MJP Associates Inc. ADV Has $2.25 Million Position in Meta Platforms, Inc. (NASDAQ:META)

MJP Associates Inc. ADV lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 53.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,623 shares of the social networking company’s stock after purchasing an additional 1,616 shares during the period. MJP Associates Inc. ADV’s holdings in Meta Platforms were worth $2,245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of META. Congress Asset Management Co. MA grew its holdings in Meta Platforms by 7.2% in the 1st quarter. Congress Asset Management Co. MA now owns 308,459 shares of the social networking company’s stock valued at $149,781,000 after buying an additional 20,846 shares in the last quarter. Hyperion Partners LLC bought a new position in shares of Meta Platforms in the 1st quarter valued at $234,000. Executive Wealth Group LLC raised its position in Meta Platforms by 200.0% in the first quarter. Executive Wealth Group LLC now owns 2,700 shares of the social networking company’s stock valued at $1,229,000 after purchasing an additional 1,800 shares during the last quarter. David J Yvars Group boosted its position in Meta Platforms by 25.5% during the 1st quarter. David J Yvars Group now owns 1,522 shares of the social networking company’s stock worth $739,000 after buying an additional 309 shares during the period. Finally, Liberty Capital Management Inc. lifted its holdings in shares of Meta Platforms by 19.2% during the first quarter. Liberty Capital Management Inc. now owns 1,210 shares of the social networking company’s stock worth $588,000 after purchasing an additional 195 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Mark Zuckerberg sold 31,493 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $492.14, for a total value of $15,498,965.02. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Mark Zuckerberg sold 31,493 shares of Meta Platforms stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $492.14, for a total value of $15,498,965.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,169 shares of company stock valued at $153,344,736. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on META. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research report on Wednesday, June 12th. Raymond James upped their price objective on shares of Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, June 5th. Guggenheim reduced their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, UBS Group decreased their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $510.05.

Meta Platforms Trading Down 1.4 %

Shares of NASDAQ:META traded down $6.92 during trading on Friday, reaching $494.78. 23,130,732 shares of the company traded hands, compared to its average volume of 10,120,400. The firm has a market capitalization of $1.26 trillion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is $478.61 and its 200-day moving average is $447.50.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) 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 company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be given a $0.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio is 11.49%.

Meta Platforms Company 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.