Ossiam Has $82.86 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Ossiam decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 80.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,632 shares of the social networking company’s stock after selling 721,118 shares during the quarter. Meta Platforms comprises approximately 1.5% of Ossiam’s investment portfolio, making the stock its 19th biggest position. Ossiam’s holdings in Meta Platforms were worth $82,855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. S.A. Mason LLC increased its holdings in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares during the period. Horizon Bancorp Inc. IN increased its holdings in shares of Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after purchasing an additional 21 shares during the period. Northern Capital Management Inc. increased its holdings in shares of Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after purchasing an additional 21 shares during the period. LongView Wealth Management increased its holdings in shares of Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares during the period. Finally, Hanson & Doremus Investment Management increased its stake in Meta Platforms by 5.3% in the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after acquiring an additional 22 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.7 %

Shares of META traded up $7.64 on Friday, hitting $461.05. 3,103,035 shares of the stock traded hands, compared to its average volume of 16,119,228. The company has a market capitalization of $1.17 trillion, a PE ratio of 26.58, a P/E/G ratio of 1.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The business has a 50 day simple moving average of $493.33 and a 200 day simple moving average of $473.80. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81.

Meta Platforms (NASDAQ:META) last issued its 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. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.23 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the sale, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $445.93, for a total transaction of $218,505.70. Following the transaction, the chief operating officer now owns 6,109 shares in the company, valued at approximately $2,724,186.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,348 shares of company stock worth $154,678,120. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on META shares. Wedbush reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Wednesday. UBS Group reduced their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Canaccord Genuity Group reduced their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Stifel Nicolaus increased their target price on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, TD Securities increased their target price on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $525.66.

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.