O Shaughnessy Asset Management LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

O Shaughnessy Asset Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 20.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,475 shares of the social networking company’s stock after buying an additional 26,384 shares during the period. Meta Platforms comprises 0.8% of O Shaughnessy Asset Management LLC’s holdings, making the stock its 14th biggest holding. O Shaughnessy Asset Management LLC’s holdings in Meta Platforms were worth $76,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the 4th quarter worth approximately $32,000. Clear Investment Research LLC lifted its position in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. Cranbrook Wealth Management LLC raised its stake in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $39,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 5.4 %

Meta Platforms stock traded down $26.59 during midday trading on Wednesday, hitting $462.10. 12,411,375 shares of the stock were exchanged, compared to its average volume of 16,159,346. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $542.81. The stock has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.26 and a beta of 1.21. The stock’s 50-day simple moving average is $494.13 and its 200 day simple moving average is $474.03. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.23 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders 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 0.43%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. TD Securities boosted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. UBS Group cut their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. BNP Paribas started coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target on the stock. Finally, The Goldman Sachs Group cut their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $521.48.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the sale, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $441.54, for a total transaction of $216,354.60. Following the sale, the chief operating officer now directly owns 6,599 shares in the company, valued at approximately $2,913,722.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 310,933 shares of company stock valued at $154,451,206. 13.71% of the stock is currently owned by company insiders.

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.