Meta Platforms, Inc. (NASDAQ:META) Position Trimmed by Callan Capital LLC

Callan Capital LLC cut its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 190,663 shares of the social networking company's stock after selling 35,604 shares during the period. Meta Platforms accounts for 8.1% of Callan Capital LLC's investment portfolio, making the stock its 2nd largest holding. Callan Capital LLC's holdings in Meta Platforms were worth $109,890,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of META. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after buying an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Meta Platforms by 2.1% in the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares during the period. Capital World Investors lifted its holdings in shares of 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 buying an additional 1,141,355 shares during the period. Finally, Norges Bank purchased a new stake in shares of Meta Platforms during the 4th quarter worth $19,949,512,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 517 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $717.51, for a total transaction of $370,952.67. Following the sale, the chief operating officer directly owned 7,336 shares of the company's stock, valued at $5,263,653.36. The trade was a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total value of $374,494.83. Following the completion of the transaction, the insider directly owned 27,107 shares in the company, valued at $19,559,597.99. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 153,792 shares of company stock valued at $105,466,325. 13.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on META shares. Wells Fargo & Company lifted their price objective on Meta Platforms from $664.00 to $783.00 and gave the stock an "overweight" rating in a report on Tuesday. Piper Sandler restated an "overweight" rating and set a $808.00 target price (up previously from $650.00) on shares of Meta Platforms in a research report on Friday, June 27th. Wedbush upped their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Cantor Fitzgerald boosted their price objective on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Finally, Stifel Nicolaus raised their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $729.38.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $9.73 during trading on Friday, hitting $717.51. 10,855,962 shares of the stock were exchanged, compared to its average volume of 10,898,584. The stock has a market cap of $1.80 trillion, a PE ratio of 28.36, a P/E/G ratio of 1.78 and a beta of 1.28. The stock's fifty day moving average is $672.36 and its 200 day moving average is $633.41. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. 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 (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the previous year, the business earned $4.71 earnings per share. The company's revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

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.