Hengehold Capital Management LLC Purchases 264 Shares of Meta Platforms, Inc. (NASDAQ:META)

Hengehold Capital Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 26.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,267 shares of the social networking company’s stock after buying an additional 264 shares during the quarter. Hengehold Capital Management LLC’s holdings in Meta Platforms were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Millstone Evans Group LLC bought a new stake in Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms in the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. bought a new stake in Meta Platforms in the fourth quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC lifted its position in Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock valued at $50,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $702.12 on Tuesday. The firm has a 50 day moving average of $607.90 and a 200-day moving average of $620.85. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.77 trillion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.42 and a beta of 1.26.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 1,462 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the completion of the sale, the chief executive officer now directly owns 139,538 shares of the company’s stock, valued at $97,834,277.94. The trade was a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $614.97, for a total transaction of $373,901.76. Following the sale, the chief operating officer now directly owns 6,838 shares of the company’s stock, valued at $4,205,164.86. This represents a 8.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 84,672 shares of company stock worth $55,455,647. Insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on META shares. Benchmark lowered their price objective on Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Rosenblatt Securities boosted their price objective on Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $676.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 11th. Raymond James lowered their price objective on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 1st. Finally, Piper Sandler boosted their price objective on Meta Platforms from $610.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $706.88.

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.