Bouvel Investment Partners LLC Has $5.43 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Bouvel Investment Partners LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,489 shares of the social networking company’s stock after selling 81 shares during the quarter. Meta Platforms comprises about 2.2% of Bouvel Investment Partners LLC’s investment portfolio, making the stock its 15th largest position. Bouvel Investment Partners LLC’s holdings in Meta Platforms were worth $5,432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in shares of Meta Platforms in the fourth quarter worth about $19,949,512,000. GAMMA Investing LLC increased its stake in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after purchasing an additional 6,240,810 shares during the period. Raymond James Financial Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth about $2,243,603,000. Finally, Northern Trust Corp increased its stake in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer now directly owns 1,183 shares of the company’s stock, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,672 shares of company stock valued at $55,455,647 over the last quarter. Corporate insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Scotiabank dropped their price objective on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a research note on Monday, April 21st. Barclays decreased their target price on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Roth Capital lifted their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $706.88.

Meta Platforms Price Performance

META stock opened at $702.12 on Tuesday. The firm’s 50-day moving average price is $607.90 and its two-hundred day moving average price is $620.85. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The stock has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.42 and a beta of 1.26. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s payout ratio is currently 8.19%.

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.