Atlantic Edge Private Wealth Management LLC Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Atlantic Edge Private Wealth Management LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,985 shares of the social networking company's stock after selling 1,150 shares during the period. Meta Platforms accounts for 1.1% of Atlantic Edge Private Wealth Management LLC's portfolio, making the stock its 24th largest holding. Atlantic Edge Private Wealth Management LLC's holdings in Meta Platforms were worth $3,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares during the period. Geode Capital Management LLC increased its holdings in Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after acquiring an additional 1,020,519 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after acquiring an additional 1,049,121 shares during the last quarter. Capital World Investors increased its holdings in Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after acquiring an additional 1,141,355 shares during the last quarter. Finally, Norges Bank bought a new stake in Meta Platforms in the 4th quarter valued at $19,949,512,000. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,361 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total transaction of $374,494.83. Following the completion of the sale, the insider directly owned 27,107 shares of the company's stock, valued at $19,559,597.99. The trade was a 1.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,792 shares of company stock valued at $105,466,325. Company insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research reports. Scotiabank reduced their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $740.00 price target on shares of Meta Platforms in a report on Thursday, May 1st. Pivotal Research reduced their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Guggenheim lifted their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $729.38.

Meta Platforms Trading Down 1.3%

Meta Platforms stock traded down $9.73 during trading hours on Friday, hitting $717.51. The company had a trading volume of 10,855,962 shares, compared to its average volume of 14,460,014. The firm has a market cap of $1.80 trillion, a P/E ratio of 27.98, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90. The company has a 50-day moving average price of $674.77 and a two-hundred day moving average price of $634.35.

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

Meta Platforms Dividend Announcement

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