Dumont & Blake Investment Advisors LLC Has $2.10 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Dumont & Blake Investment Advisors LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,321 shares of the social networking company’s stock after acquiring an additional 76 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Meta Platforms were worth $2,098,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in Meta Platforms during the fourth quarter valued at approximately $11,285,855,000. International Assets Investment Management LLC grew its position in Meta Platforms by 11,154.4% during the fourth 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 in the last quarter. Capital Research Global Investors grew its position 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 valued at $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management grew 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 valued at $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Meta Platforms by 1.7% during 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 purchasing an additional 3,104,550 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the completion of the sale, the insider now owns 38,983 shares in the company, valued at approximately $18,906,755. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the sale, the insider now owns 38,983 shares of the company’s stock, valued at approximately $18,906,755. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the sale, the chief financial officer now directly owns 74,580 shares in the company, valued at approximately $35,190,573. The disclosure for this sale can be found here. Insiders sold 201,557 shares of company stock worth $97,894,296 in the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Down 3.0 %

Shares of META stock opened at $504.22 on Monday. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 1.31 and a beta of 1.21. 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 fifty day moving average of $480.00 and a 200-day moving average of $455.62.

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

Meta Platforms Dividend Announcement

The company 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on META. JPMorgan Chase & Co. lowered their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group decreased their target price on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. BNP Paribas initiated coverage on shares of Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price for the company. Finally, Robert W. Baird decreased their target price on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned 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, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $510.05.

Meta Platforms 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.