Delta Investment Management LLC Has $882,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Delta Investment Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 7.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,816 shares of the social networking company’s stock after buying an additional 129 shares during the quarter. Delta Investment Management LLC’s holdings in Meta Platforms were worth $882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $181,000. Single Point Partners LLC increased its position in Meta Platforms by 3.0% in the 4th quarter. Single Point Partners LLC now owns 1,147 shares of the social networking company’s stock valued at $406,000 after acquiring an additional 33 shares during the period. Avity Investment Management Inc. increased its position in Meta Platforms by 2.4% in the 4th quarter. Avity Investment Management Inc. now owns 112,851 shares of the social networking company’s stock valued at $39,945,000 after acquiring an additional 2,692 shares during the period. 17 Capital Partners LLC acquired a new position in Meta Platforms in the 4th quarter valued at approximately $15,782,000. Finally, Contravisory Investment Management Inc. acquired a new position in Meta Platforms in the 4th quarter valued at approximately $437,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on META. Stifel Nicolaus upped their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. UBS Group decreased their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Wolfe Research initiated coverage on shares of Meta Platforms in a research report on Tuesday. They set an “outperform” rating and a $620.00 price objective for the company. Finally, Sanford C. Bernstein decreased their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $519.10.

Meta Platforms Price Performance

NASDAQ:META traded up $4.00 during mid-day trading on Friday, hitting $479.85. 10,359,817 shares of the stock traded hands, compared to its average volume of 16,227,805. The business’s 50-day moving average price is $493.39 and its 200 day moving average price is $469.46. The company has a market cap of $1.22 trillion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.20 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. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. On average, analysts expect that Meta Platforms, Inc. will post 20.21 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.42%. Meta Platforms’s payout ratio is 11.49%.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the sale, the director now owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,106 shares of company stock worth $154,542,945. 13.71% of the stock is currently owned by 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.