Freestone Capital Holdings LLC Has $27.67 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Freestone Capital Holdings LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,981 shares of the social networking company’s stock after purchasing an additional 115 shares during the quarter. Meta Platforms makes up 1.0% of Freestone Capital Holdings LLC’s holdings, making the stock its 16th biggest holding. Freestone Capital Holdings LLC’s holdings in Meta Platforms were worth $27,669,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. S.A. Mason LLC boosted its holdings in 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 acquiring an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN boosted its holdings in 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 acquiring an additional 21 shares in the last quarter. Northern Capital Management Inc. boosted its holdings in 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 acquiring an additional 21 shares in the last quarter. LongView Wealth Management boosted its holdings in 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 acquiring an additional 22 shares in the last quarter. Finally, Hanson & Doremus Investment Management boosted its holdings 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 worth $211,000 after acquiring an additional 22 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total value of $8,916,696.74. Following the completion of the sale, the chief executive officer now directly owns 151,918 shares of the company’s stock, valued at $81,104,462.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,348 shares of company stock valued at $154,678,120. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock traded up $13.82 during midday trading on Friday, reaching $467.23. 8,831,029 shares of the stock traded hands, compared to its average volume of 16,159,283. The stock’s fifty day moving average is $493.33 and its 200-day moving average is $473.80. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81. The stock has a market cap of $1.19 trillion, a P/E ratio of 26.53, a PEG ratio of 1.19 and a beta of 1.21. 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 results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 20.23 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid 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 payout ratio is presently 11.49%.

Analyst Upgrades and Downgrades

META has been the topic of several analyst reports. Citigroup dropped their target price on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Raymond James upped their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday, July 1st. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday. Guggenheim lowered their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a report on Monday, April 22nd. Two investment 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.