Azimuth Capital Investment Management LLC Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Azimuth Capital Investment Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,973 shares of the social networking company’s stock after purchasing an additional 389 shares during the quarter. Meta Platforms accounts for about 1.2% of Azimuth Capital Investment Management LLC’s holdings, making the stock its 14th biggest holding. Azimuth Capital Investment Management LLC’s holdings in Meta Platforms were worth $26,537,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in META. Frank Rimerman Advisors LLC grew its stake in Meta Platforms by 1.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,280 shares of the social networking company’s stock worth $1,161,000 after purchasing an additional 34 shares in the last quarter. Angeles Investment Advisors LLC raised its holdings in Meta Platforms by 14.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 2,627 shares of the social networking company’s stock valued at $930,000 after acquiring an additional 331 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Meta Platforms by 42.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,041,091 shares of the social networking company’s stock worth $368,505,000 after acquiring an additional 307,975 shares during the last quarter. Pinnbrook Capital Management LP grew its holdings in Meta Platforms by 42.8% during the 4th quarter. Pinnbrook Capital Management LP now owns 14,291 shares of the social networking company’s stock worth $5,058,000 after acquiring an additional 4,281 shares in the last quarter. Finally, Client 1ST Advisory Group LLC increased its position in shares of Meta Platforms by 10.7% in the 4th quarter. Client 1ST Advisory Group LLC now owns 1,859 shares of the social networking company’s stock valued at $658,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of a number of analyst reports. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Raymond James upped their price objective on Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Wednesday. Roth Mkm raised their target price on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Wolfe Research lowered their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, BNP Paribas began coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $510.41.

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Meta Platforms Price Performance

META traded down $0.80 on Friday, hitting $492.96. 9,380,745 shares of the company were exchanged, compared to its average volume of 11,276,715. Meta Platforms, Inc. has a fifty-two week low of $258.88 and a fifty-two week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a market capitalization of $1.25 trillion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21. The business’s fifty day moving average is $480.52 and its 200 day moving average is $435.75.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.41%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total transaction of $431,685.00. Following the completion of the sale, the insider now directly owns 41,465 shares in the company, valued at $19,778,805. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the transaction, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Insiders sold a total of 604,890 shares of company stock worth $297,429,900 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

About Meta Platforms

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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