Tiemann Investment Advisors LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Tiemann Investment Advisors LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 495 shares of the social networking company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares during the period. Capital World Investors boosted its position in shares of Meta Platforms by 2.5% in the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares in the last quarter. Capital International Investors boosted its position in shares of Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares in the last quarter. Norges Bank bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $11,285,855,000. Finally, Capital Research Global Investors boosted its position in shares of Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the sale, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the sale, the insider now directly owns 36,940 shares of the company’s stock, valued at $19,724,113. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the sale, the chief financial officer now directly owns 74,580 shares in the company, valued at $35,190,573. The disclosure for this sale can be found here. Insiders have sold a total of 310,933 shares of company stock valued at $154,451,206 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

NASDAQ:META traded down $7.86 on Thursday, reaching $453.41. 18,227,129 shares of the company’s stock traded hands, compared to its average volume of 16,210,694. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a 50-day simple moving average of $493.72 and a 200-day simple moving average of $473.94. The firm has a market cap of $1.15 trillion, a PE ratio of 26.39, a P/E/G ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results 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 analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities research analysts forecast that Meta Platforms, Inc. will post 20.23 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.44%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Upgrades and Downgrades

META has been the topic of a number of analyst reports. Oppenheimer boosted their price target on Meta Platforms from $500.00 to $525.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Stifel Nicolaus boosted their price target on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. BNP Paribas initiated coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $550.00 price objective on shares of Meta Platforms in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $521.48.

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.