Shulman DeMeo Asset Management LLC Buys 229 Shares of Meta Platforms, Inc. (NASDAQ:META)

Shulman DeMeo Asset Management LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,233 shares of the social networking company’s stock after acquiring an additional 229 shares during the period. Meta Platforms comprises approximately 0.7% of Shulman DeMeo Asset Management LLC’s portfolio, making the stock its 13th largest position. Shulman DeMeo Asset Management LLC’s holdings in Meta Platforms were worth $2,541,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in META. Norges Bank purchased a new stake in Meta Platforms during the fourth quarter valued at about $11,285,855,000. International Assets Investment Management LLC grew its holdings in Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Capital Research Global Investors increased its position in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after acquiring an additional 4,440,229 shares during the period. Concentrum Wealth Management raised its stake in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the completion of the transaction, the chief executive officer now owns 230,461 shares of the company’s stock, valued at $117,737,915.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the transaction, the chief executive officer now owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 490 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $486.75, for a total value of $238,507.50. Following the transaction, the chief operating officer now directly owns 8,559 shares in the company, valued at approximately $4,166,093.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 233,512 shares of company stock worth $113,597,536. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

META has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus upped their price target on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Loop Capital reduced their target price on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group cut their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Citigroup decreased their price objective on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $510.05.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $517.22 on Friday. The stock has a 50 day moving average of $479.53 and a two-hundred day moving average of $452.69. The stock has a market cap of $1.31 trillion, a P/E ratio of 29.84, a P/E/G ratio of 1.33 and a beta of 1.21. 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, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

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.