In Depth Partners LLC Has $14.01 Million Position in Meta Platforms, Inc. (NASDAQ:META)

In Depth Partners LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the 1st quarter, Holdings Channel reports. The fund owned 28,841 shares of the social networking company’s stock after purchasing an additional 780 shares during the quarter. Meta Platforms comprises 11.0% of In Depth Partners LLC’s portfolio, making the stock its 2nd biggest holding. In Depth Partners LLC’s holdings in Meta Platforms were worth $14,005,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of META. Baird Financial Group Inc. raised its stake in Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares in the last quarter. California State Teachers Retirement System raised its stake in Meta Platforms by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Donoghue Forlines LLC raised its stake in Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after acquiring an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after acquiring an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP raised its stake in Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Down 0.5 %

Meta Platforms stock traded down $2.52 during midday trading on Tuesday, reaching $463.19. The stock had a trading volume of 11,294,849 shares, compared to its average volume of 16,128,882. The firm’s fifty day simple moving average is $493.11 and its 200-day simple moving average is $477.40. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81. The stock has a market capitalization of $1.17 trillion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 1.20 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms Announces Dividend

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 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead 905 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead 905 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders have sold 311,175 shares of company stock valued at $154,616,712 in the last 90 days. 13.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of several recent analyst reports. Raymond James increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. Wolfe Research initiated coverage on Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective for the company. The Goldman Sachs Group lowered their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. TD Securities raised their target price on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $538.29.

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.