AHL Investment Management Inc. Purchases Shares of 490 Meta Platforms, Inc. (NASDAQ:META)

AHL Investment Management Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 490 shares of the social networking company’s stock, valued at approximately $238,000.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in Meta Platforms in the fourth quarter valued at $11,285,855,000. International Assets Investment Management LLC lifted its stake in Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after purchasing an additional 4,908,251 shares during the last quarter. Capital Research Global Investors grew its holdings in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares during the period. Concentrum Wealth Management increased its position in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Cowen reduced their target price on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wolfe Research decreased their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Sanford C. Bernstein cut their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Roth Mkm upped their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, BMO Capital Markets restated a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Two equities 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $510.05.

Meta Platforms Stock Up 1.3 %

Shares of NASDAQ META opened at $519.56 on Friday. The company’s 50 day moving average price is $479.53 and its 200-day moving average price is $452.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The company has a market capitalization of $1.32 trillion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results 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. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Equities analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the transaction, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the transaction, the insider now owns 38,750 shares in the company, valued at approximately $19,258,362.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $441.54, for a total transaction of $216,354.60. Following the completion of the sale, the chief operating officer now owns 6,599 shares of the company’s stock, valued at $2,913,722.46. The disclosure for this sale can be found here. Insiders sold 233,512 shares of company stock valued at $113,597,536 over the last 90 days. Company insiders own 13.71% of the company’s stock.

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.