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

Envoi LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 783 shares of the social networking company’s stock, valued at approximately $380,000. Meta Platforms accounts for about 0.9% of Envoi LLC’s investment portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in shares of Meta Platforms by 30.0% in the first quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock worth $1,656,318,000 after purchasing an additional 788,131 shares during the period. K2 Principal Fund L.P. acquired a new stake in Meta Platforms during the first quarter worth about $243,000. Biltmore Family Office LLC increased its holdings in Meta Platforms by 2.3% in the 1st quarter. Biltmore Family Office LLC now owns 2,893 shares of the social networking company’s stock valued at $1,405,000 after buying an additional 64 shares during the period. Capital World Investors raised its position in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a document filed with the SEC, which is available through 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 directly owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders sold a total of 311,348 shares of company stock valued at $154,678,120 over the last ninety days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Up 2.7 %

META stock traded up $12.29 during midday trading on Friday, reaching $465.70. 14,222,388 shares of the company’s stock traded hands, compared to its average volume of 13,931,730. 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 firm’s fifty day moving average price is $493.20 and its 200-day moving average price is $474.54. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. The company has a market cap of $1.18 trillion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 1.17 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 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 during the quarter, compared to the consensus estimate of $36.28 billion. As a group, sell-side 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 disclosed 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analysts Set New Price Targets

Several research firms have weighed in on META. Royal Bank of Canada cut their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. UBS Group reduced their price objective 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. Truist Financial decreased their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. dropped their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, TD Securities lifted their price target on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, three have given 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $525.66.

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.