Accurate Wealth Management LLC Sells 601 Shares of Meta Platforms, Inc. (NASDAQ:META)

Accurate Wealth Management LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,021 shares of the social networking company's stock after selling 601 shares during the quarter. Meta Platforms accounts for approximately 1.0% of Accurate Wealth Management LLC's portfolio, making the stock its 15th largest holding. Accurate Wealth Management LLC's holdings in Meta Platforms were worth $5,451,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of META. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $47,000. Finally, Principia Wealth Advisory LLC raised its holdings in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after buying an additional 30 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 7,802 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $701.96, for a total value of $5,476,691.92. Following the completion of the transaction, the chief executive officer now owns 110,477 shares of the company's stock, valued at $77,550,434.92. This represents a 6.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,201 shares of company stock worth $56,377,837 over the last 90 days. 13.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on META shares. Citigroup raised their target price on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Rosenblatt Securities raised their target price on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Morgan Stanley raised their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada restated an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $704.26.

Meta Platforms Stock Performance

Meta Platforms stock traded down $10.49 during mid-day trading on Friday, hitting $682.87. 9,259,272 shares of the company's stock traded hands, compared to its average volume of 14,521,911. The firm has a 50 day moving average price of $604.07 and a 200 day moving average price of $619.60. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.72 trillion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.

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

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Meta Platforms Company 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.