Bridge Creek Capital Management LLC Decreases Position in Meta Platforms, Inc. (NASDAQ:META)

Bridge Creek Capital Management LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,965 shares of the social networking company’s stock after selling 100 shares during the period. Bridge Creek Capital Management LLC’s holdings in Meta Platforms were worth $3,382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Stone House Investment Management LLC increased its position in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the period. Beaird Harris Wealth Management LLC raised its position in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. Quest Partners LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $32,000. Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% during 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. Finally, Cranbrook Wealth Management LLC grew its position in 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 purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $505.29, for a total value of $295,594.65. Following the completion of the transaction, the insider now owns 39,568 shares in the company, valued at approximately $19,993,314.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $517.75, for a total transaction of $253,697.50. Following the sale, the chief operating officer now directly owns 7,579 shares in the company, valued at approximately $3,924,027.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $505.29, for a total value of $295,594.65. Following the completion of the sale, the insider now directly owns 39,568 shares in the company, valued at approximately $19,993,314.72. The disclosure for this sale can be found here. Insiders have sold 313,169 shares of company stock worth $153,344,736 in the last ninety days. 13.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on META shares. Roth Mkm boosted their price objective on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Citigroup dropped their price target on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Guggenheim reduced their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, Loop Capital cut their target price on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Two 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 stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $510.05.

Meta Platforms Stock Down 1.4 %

Shares of NASDAQ:META traded down $6.92 during mid-day trading on Friday, hitting $494.78. 23,130,732 shares of the company traded hands, compared to its average volume of 10,120,400. The firm has a market cap of $1.26 trillion, a P/E ratio of 28.42, a PEG ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The firm’s 50 day simple moving average is $478.61 and its 200 day simple moving average is $448.41. 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 (NASDAQ:META) last released its quarterly earnings results 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. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.