Campbell Capital Management Inc. Reduces Stake in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Campbell Capital Management Inc. has reduced its holdings in Meta Platforms, Inc. by 2.2%, now owning approximately 20,121 shares valued at $11.6 million which accounts for 6.7% of its portfolio.
• Meta Platforms recently announced a quarterly dividend of $0.525 per share, translating to an annual dividend yield of 0.3% and a dividend payout ratio of 7.60%.
• Analysts' ratings for Meta Platforms have been predominantly positive, with a consensus rating of "Moderate Buy" and the stock price target ranging from $822.41 to $918.00.

Campbell Capital Management Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,121 shares of the social networking company's stock after selling 450 shares during the quarter. Meta Platforms accounts for approximately 6.7% of Campbell Capital Management Inc.'s investment portfolio, making the stock its 4th largest position. Campbell Capital Management Inc.'s holdings in Meta Platforms were worth $11,597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Meta Platforms during the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Meta Platforms during the 1st quarter worth approximately $33,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Finally, JCIC Asset Management Inc. boosted its holdings in shares of Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Price Performance

NASDAQ:META traded down $3.43 during mid-day trading on Monday, reaching $765.87. The stock had a trading volume of 7,597,659 shares, compared to its average volume of 15,441,953. The firm has a 50 day moving average price of $714.53 and a two-hundred day moving average price of $651.30. The stock has a market capitalization of $1.92 trillion, a P/E ratio of 27.73, a P/E/G ratio of 1.60 and a beta of 1.27. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $784.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. Meta Platforms's quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share 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 given a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's payout ratio is presently 7.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on META shares. Truist Financial upped their target price on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. KeyCorp upped their target price on Meta Platforms from $800.00 to $905.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. TD Securities lowered their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada upped their target price on Meta Platforms from $740.00 to $840.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Citigroup reaffirmed an "outperform" rating on shares of Meta Platforms in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $822.41.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $760.26, for a total value of $393,054.42. Following the transaction, the chief operating officer directly owned 5,268 shares of the company's stock, valued at $4,005,049.68. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 515 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $776.38, for a total value of $399,835.70. Following the completion of the transaction, the insider directly owned 25,035 shares in the company, valued at $19,436,673.30. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,263 shares of company stock worth $211,724,057. 13.61% of the stock is owned by corporate insiders.

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.