Palouse Capital Management Inc. Has $2.01 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Palouse Capital Management Inc. reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,670 shares of the social networking company’s stock after selling 45 shares during the quarter. Palouse Capital Management Inc.’s holdings in Meta Platforms were worth $2,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stone House Investment Management LLC boosted its stake in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the period. MBM Wealth Consultants LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $26,000. Stephens Investment Management Group LLC bought a new position in shares of Meta Platforms during the 2nd quarter worth approximately $30,000. Beaird Harris Wealth Management LLC boosted its stake in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the period. Finally, PayPay Securities Corp boosted its stake in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Wedbush boosted their price target on Meta Platforms from $420.00 to $520.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Tigress Financial boosted their price target on Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research note on Friday, February 9th. Jefferies Financial Group boosted their price target on Meta Platforms from $550.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Guggenheim boosted their price target on Meta Platforms from $380.00 to $520.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $519.53.

Meta Platforms Trading Down 4.1 %

Shares of META stock traded down $20.73 on Friday, hitting $481.07. The company had a trading volume of 25,215,364 shares, compared to its average volume of 11,967,675. The firm has a market cap of $1.23 trillion, a P/E ratio of 32.29, a P/E/G ratio of 1.27 and a beta of 1.20. The stock’s 50-day moving average is $494.55 and its two-hundred day moving average is $398.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. Meta Platforms, Inc. has a twelve month low of $207.13 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. The company had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.00 earnings per share. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. Meta Platforms’s payout ratio is 13.42%.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 9,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $388.90, for a total transaction of $3,500,100.00. Following the sale, the chief operating officer now owns 79,935 shares in the company, valued at approximately $31,086,721.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Javier Olivan sold 9,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $388.90, for a total transaction of $3,500,100.00. Following the sale, the chief operating officer now owns 79,935 shares in the company, valued at approximately $31,086,721.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $392.36, for a total value of $7,722,037.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,421,182 shares of company stock worth $677,574,550 in the last 90 days. Corporate insiders own 13.75% of the company’s stock.

About Meta Platforms

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.