17,500 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by TB Alternative Assets Ltd.

TB Alternative Assets Ltd. purchased a new position in Meta Platforms, Inc. (NASDAQ:META) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,500 shares of the social networking company’s stock, valued at approximately $8,498,000. Meta Platforms accounts for approximately 2.1% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 14th biggest position.

A number of other large investors have also bought and sold shares of the stock. Prentice Wealth Management LLC grew its holdings in Meta Platforms by 4.1% in the first quarter. Prentice Wealth Management LLC now owns 1,798 shares of the social networking company’s stock worth $873,000 after purchasing an additional 70 shares during the period. Hoxton Planning & Management LLC grew its holdings in shares of Meta Platforms by 2.3% during the first quarter. Hoxton Planning & Management LLC now owns 2,962 shares of the social networking company’s stock valued at $1,438,000 after buying an additional 68 shares during the last quarter. Sarasin & Partners LLP grew its holdings in shares of Meta Platforms by 8.1% during the first quarter. Sarasin & Partners LLP now owns 592,155 shares of the social networking company’s stock valued at $287,539,000 after buying an additional 44,506 shares during the last quarter. Priebe Wealth Holdings LLC acquired a new position in shares of Meta Platforms during the first quarter valued at about $238,000. Finally, Inspirion Wealth Advisors LLC acquired a new position in shares of Meta Platforms during the first quarter valued at about $256,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,145 shares of company stock valued at $99,707,031. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.5 %

Shares of Meta Platforms stock traded up $2.52 during trading on Wednesday, reaching $513.12. The company’s stock had a trading volume of 8,571,565 shares, compared to its average volume of 16,497,965. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The company has a market cap of $1.30 trillion, a price-to-earnings ratio of 29.39, a PEG ratio of 1.33 and a beta of 1.21. The firm’s 50-day moving average is $478.80 and its two-hundred day moving average is $451.80. 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 quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $36.28 billion. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be paid a $0.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on META. BNP Paribas began coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective for the company. Guggenheim cut their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Sanford C. Bernstein cut their price target on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Stifel Nicolaus boosted their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $510.05.

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.