Duncker Streett & Co. Inc. Acquires 150 Shares of Meta Platforms, Inc. (NASDAQ:META)

Duncker Streett & Co. Inc. increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 956 shares of the social networking company’s stock after buying an additional 150 shares during the quarter. Duncker Streett & Co. Inc.’s holdings in Meta Platforms were worth $551,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of META. Norges Bank bought a new position in shares of Meta Platforms during the fourth quarter worth about $19,949,512,000. GAMMA Investing LLC grew its stake in 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 valued at $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC grew its stake in 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 valued at $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new position in Meta Platforms in the fourth quarter valued at approximately $2,243,603,000. Finally, Northern Trust Corp grew its stake in 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 valued at $13,727,613,000 after purchasing an additional 2,787,832 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. Rosenblatt Securities raised their price target on Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Raymond James Financial decreased their price target on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 1st. Bank of America raised their price target on Meta Platforms from $690.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. Finally, Monness Crespi & Hardt raised their price objective on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $712.69.

Insider Activity

In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the transaction, the chief technology officer now owns 16,463 shares in the company, valued at approximately $10,855,043.68. This trade represents a 23.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, March 31st. The shares were sold at an average price of $563.03, for a total value of $342,322.24. Following the completion of the transaction, the chief operating officer now owns 6,230 shares in the company, valued at approximately $3,507,676.90. The trade was a 8.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,002 shares of company stock worth $73,353,340. Insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $712.20 on Wednesday. The stock’s fifty day moving average price is $625.25 and its two-hundred day moving average price is $624.38. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market cap of $1.79 trillion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the company earned $4.71 EPS. The company’s revenue was up 16.1% on a year-over-year basis. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 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.