Campbell Newman Asset Management Inc. Sells 755 Shares of Meta Platforms, Inc. (NASDAQ:META)

Campbell Newman Asset Management Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,529 shares of the social networking company's stock after selling 755 shares during the quarter. Campbell Newman Asset Management Inc.'s holdings in Meta Platforms were worth $2,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms in the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at $47,000. Finally, Principia Wealth Advisory LLC lifted its holdings in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Trading Up 3.1%

NASDAQ META traded up $20.81 on Monday, reaching $703.16. The company had a trading volume of 6,342,630 shares, compared to its average volume of 14,490,424. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock's 50 day moving average is $604.07 and its 200-day moving average is $619.96. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.77 trillion, a price-to-earnings ratio of 29.41, a PEG ratio of 1.42 and a beta of 1.26.

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 (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.71 EPS. Equities analysts predict 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 will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 1,462 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the sale, the chief executive officer now owns 139,538 shares of the company's stock, valued at $97,834,277.94. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.00, for a total value of $363,819.00. Following the completion of the transaction, the insider now owns 29,183 shares of the company's stock, valued at $20,457,283. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,593 shares of company stock worth $56,008,477. Company insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of analyst reports. Pivotal Research lowered their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. KeyCorp upped their price objective on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Monness Crespi & Hardt increased their target price on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Piper Sandler boosted their price target on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Benchmark lowered their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $704.26.

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.