Bryn Mawr Capital Management LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 26.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,573 shares of the social networking company's stock after selling 7,216 shares during the period. Bryn Mawr Capital Management LLC's holdings in Meta Platforms were worth $11,281,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Schrum Private Wealth Management LLC grew its position in shares of Meta Platforms by 8.7% during the first quarter. Schrum Private Wealth Management LLC now owns 622 shares of the social networking company's stock worth $359,000 after buying an additional 50 shares in the last quarter. Ndwm LLC acquired a new position in Meta Platforms in the 1st quarter valued at about $215,000. Bridgewater Advisors Inc. increased its position in Meta Platforms by 5.4% in the 1st quarter. Bridgewater Advisors Inc. now owns 27,604 shares of the social networking company's stock valued at $15,305,000 after acquiring an additional 1,414 shares during the period. Tectonic Advisors LLC increased its position in Meta Platforms by 4.2% in the 1st quarter. Tectonic Advisors LLC now owns 3,436 shares of the social networking company's stock valued at $1,980,000 after acquiring an additional 139 shares during the period. Finally, Violich Capital Management Inc. increased its position in Meta Platforms by 3.7% in the 1st quarter. Violich Capital Management Inc. now owns 4,510 shares of the social networking company's stock valued at $2,599,000 after acquiring an additional 160 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Meta Platforms
In other news, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the sale, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 152,437 shares of company stock valued at $105,068,570. Company insiders own 13.61% of the company's stock.
Meta Platforms Stock Down 1.1%
Meta Platforms stock traded down $8.16 during mid-day trading on Tuesday, hitting $704.81. The company's stock had a trading volume of 8,873,115 shares, compared to its average volume of 14,295,028. The firm's 50 day moving average is $686.09 and its 200 day moving average is $638.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90. The company has a market cap of $1.77 trillion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last posted 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. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the company earned $4.71 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. On average, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's payout ratio is 8.19%.
Analyst Ratings Changes
META has been the topic of several analyst reports. KeyCorp raised their price target on shares of Meta Platforms from $655.00 to $800.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Robert W. Baird upped their price objective on shares of Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Sanford C. Bernstein upped their price objective on shares of Meta Platforms from $700.00 to $775.00 and gave the company an "outperform" rating in a research note on Tuesday. Rosenblatt Securities lifted their price objective on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Truist Financial lifted their price objective on Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $748.60.
View Our Latest Stock Analysis on Meta Platforms
About Meta Platforms
(
Free Report)
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.
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