Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Bulltick Wealth Management LLC

Bulltick Wealth Management LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,099 shares of the social networking company's stock after selling 3,005 shares during the quarter. Meta Platforms makes up about 1.2% of Bulltick Wealth Management LLC's investment portfolio, making the stock its 17th largest holding. Bulltick Wealth Management LLC's holdings in Meta Platforms were worth $5,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of META. Norges Bank bought a new stake in Meta Platforms during the 4th quarter valued at approximately $19,949,512,000. Proficio Capital Partners LLC grew its stake in Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after acquiring an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Meta Platforms in the 4th quarter worth $2,243,603,000. Northern Trust Corp increased its holdings in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Meta Platforms by 27.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock valued at $5,211,967,000 after buying an additional 1,892,509 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 1.7 %

Meta Platforms stock traded up $9.83 during midday trading on Wednesday, reaching $597.14. The company's stock had a trading volume of 13,134,064 shares, compared to its average volume of 14,435,033. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market capitalization of $1.51 trillion, a P/E ratio of 24.96, a PEG ratio of 1.42 and a beta of 1.24. The stock's 50-day simple moving average is $572.38 and its 200-day simple moving average is $604.03. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $4.71 EPS. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio is presently 8.19%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now directly owns 5,622 shares in the company, valued at $2,744,547.96. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $545.17, for a total value of $502,101.57. Following the sale, the insider now directly owns 26,577 shares of the company's stock, valued at $14,488,983.09. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 210,357 shares of company stock worth $148,449,468 in the last 90 days. Insiders own 13.71% of the company's stock.

Wall Street Analyst Weigh In

META has been the subject of a number of recent research reports. Rosenblatt Securities raised their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Barclays decreased their target price on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Susquehanna reduced their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Raymond James dropped their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a report on Thursday, May 1st. Finally, Roth Capital increased their price target on Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $696.45.

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.