American Capital Advisory LLC Cuts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

American Capital Advisory LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,598 shares of the social networking company's stock after selling 441 shares during the quarter. Meta Platforms accounts for about 1.1% of American Capital Advisory LLC's portfolio, making the stock its 17th largest position. American Capital Advisory LLC's holdings in Meta Platforms were worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC acquired a new position in Meta Platforms during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Meta Platforms during the first quarter worth $28,000. Millstone Evans Group LLC acquired a new position in Meta Platforms during the fourth quarter worth $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the fourth quarter worth $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $45,000. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% 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, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the transaction, the chief executive officer directly owned 118,279 shares of the company's stock, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,756 shares of company stock worth $104,720,878 over the last three months. 13.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on META shares. The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Raymond James Financial cut their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. Benchmark lowered their target price on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Scotiabank lowered their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Finally, Rosenblatt Securities lifted their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $722.12.

Meta Platforms Stock Down 0.0%

NASDAQ META traded down $0.09 during trading on Tuesday, hitting $718.27. The company's stock had a trading volume of 1,315,900 shares, compared to its average volume of 14,473,967. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market cap of $1.81 trillion, a PE ratio of 27.96, a P/E/G ratio of 1.76 and a beta of 1.28. The business's 50 day simple moving average is $662.26 and its 200-day simple moving average is $631.21. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $4.71 earnings per share. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

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.