May Hill Capital LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

May Hill Capital LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,866 shares of the social networking company’s stock, valued at approximately $2,849,000. Meta Platforms comprises 1.1% of May Hill Capital LLC’s holdings, making the stock its 20th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Seelaus Asset Management LLC boosted its holdings in shares of Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning raised its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after purchasing an additional 15 shares during the period. Maiden Cove Capital LLC lifted its stake in Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after purchasing an additional 15 shares during the last quarter. Stephens Consulting LLC increased its position in Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after buying an additional 16 shares during the last quarter. Finally, VeraBank N.A. lifted its position in shares of Meta Platforms by 0.8% during the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after buying an additional 16 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

NASDAQ:META opened at $576.36 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The business has a 50 day moving average price of $654.50 and a 200-day moving average price of $610.25. The firm has a market cap of $1.46 trillion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the business earned $5.33 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s payout ratio is 8.78%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on META. Wedbush restated an “outperform” rating and issued a $770.00 price objective (up from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Barclays raised their price objective on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Cantor Fitzgerald raised their price target on Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Finally, Bank of America lifted their target price on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $718.55.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the firm’s stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares in the company, valued at $15,422,186.45. This trade represents a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 5,060 shares of the company’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the transaction, the chief technology officer now owns 5,139 shares in the company, valued at $3,785,747.13. This trade represents a 49.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 583,505 shares of company stock valued at $385,495,911 over the last quarter. 13.71% of the stock is owned by company insiders.

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.