Neville Rodie & Shaw Inc. Increases Position in Meta Platforms, Inc. (NASDAQ:META)

Neville Rodie & Shaw Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,055 shares of the social networking company’s stock after buying an additional 1,830 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Meta Platforms were worth $7,310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. Stone House Investment Management LLC boosted its stake in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Quest Partners LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $32,000. Clear Investment Research LLC boosted its position in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Gilfoyle & Co LLC bought a new position in Meta Platforms in the 4th quarter worth about $39,000. Finally, Cranbrook Wealth Management LLC raised its stake in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.4 %

Shares of Meta Platforms stock opened at $501.70 on Friday. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market cap of $1.27 trillion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The firm has a fifty day moving average price of $479.38 and a 200 day moving average price of $445.90.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stifel Nicolaus raised their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Rosenblatt Securities upped their price objective on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company dropped their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Finally, Sanford C. Bernstein reduced their price target on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $510.05.

Insider Activity

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now owns 15,376 shares in the company, valued at $7,268,235.20. The disclosure for this sale can be found here. Insiders sold a total of 313,169 shares of company stock valued at $153,344,736 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

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.