Hutchens & Kramer Investment Management Group LLC Has $1.55 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Hutchens & Kramer Investment Management Group LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,683 shares of the social networking company’s stock after selling 83 shares during the period. Meta Platforms comprises 0.9% of Hutchens & Kramer Investment Management Group LLC’s holdings, making the stock its 27th largest holding. Hutchens & Kramer Investment Management Group LLC’s holdings in Meta Platforms were worth $1,547,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Inlight Wealth Management LLC acquired a new stake in shares of Meta Platforms in the 1st quarter valued at $25,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at about $45,000. Finally, JCIC Asset Management Inc. grew its position in Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock valued at $46,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $704.89, for a total transaction of $365,837.91. Following the sale, the insider directly owned 28,145 shares of the company’s stock, valued at approximately $19,839,129.05. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,766 shares of company stock worth $105,135,650 over the last quarter. 13.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. Guggenheim increased their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Morgan Stanley upped their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Pivotal Research cut their target price on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $719.29.

Meta Platforms Trading Down 0.8%

NASDAQ:META opened at $713.57 on Thursday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.77 and a beta of 1.28. The firm has a fifty day simple moving average of $651.82 and a two-hundred day simple moving average of $628.50.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the business posted $4.71 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

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.