Meta Platforms, Inc. (NASDAQ:META) is Hamilton Wealth LLC’s 5th Largest Position

Hamilton Wealth LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 27.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,375 shares of the social networking company’s stock after selling 12,031 shares during the quarter. Meta Platforms makes up about 4.8% of Hamilton Wealth LLC’s holdings, making the stock its 5th biggest holding. Hamilton Wealth LLC’s holdings in Meta Platforms were worth $15,235,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Prio Wealth Limited Partnership boosted its position in shares of Meta Platforms by 1.2% in the 4th quarter. Prio Wealth Limited Partnership now owns 161,665 shares of the social networking company’s stock worth $57,223,000 after buying an additional 1,983 shares in the last quarter. Financial Management Network Inc. boosted its position in shares of Meta Platforms by 39.4% in the 4th quarter. Financial Management Network Inc. now owns 2,309 shares of the social networking company’s stock worth $813,000 after buying an additional 653 shares in the last quarter. Werba Rubin Papier Wealth Management boosted its position in shares of Meta Platforms by 13.7% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 4,530 shares of the social networking company’s stock worth $1,603,000 after buying an additional 546 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Meta Platforms by 9.0% in the 4th quarter. State of Michigan Retirement System now owns 823,514 shares of the social networking company’s stock worth $291,491,000 after buying an additional 67,900 shares in the last quarter. Finally, Bell Bank lifted its holdings in Meta Platforms by 35.6% in the 4th quarter. Bell Bank now owns 7,930 shares of the social networking company’s stock valued at $2,807,000 after purchasing an additional 2,083 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

META traded down $9.60 during trading hours on Friday, hitting $488.14. 24,044,658 shares of the stock were exchanged, compared to its average volume of 17,151,374. The stock has a 50-day simple moving average of $494.09 and a 200-day simple moving average of $478.31. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81. The stock has a market cap of $1.24 trillion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the business posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 576 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total value of $268,606.08. Following the sale, the insider now directly owns 36,067 shares of the company’s stock, valued at $16,819,124.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 576 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total transaction of $268,606.08. Following the completion of the sale, the insider now owns 36,067 shares in the company, valued at $16,819,124.11. The disclosure for this sale can be found here. Insiders have sold 310,685 shares of company stock valued at $154,398,206 over the last three months. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on META shares. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer upped their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday. Barclays upped their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America upped their target price on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday. Finally, BNP Paribas assumed coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $571.84.

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.