Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Condor Capital Management

Key Points

• Condor Capital Management reduced its stake in Meta Platforms, Inc. by 1.8%, selling 574 shares, and now holds 30,470 shares valued at approximately $17.56 million.
• Meta recently declared a quarterly dividend of $0.525, leading to an annualized dividend yield of 0.3% and a dividend payout ratio of 7.60%.
• The company's stock price recently traded at $780.08, with a market capitalization of approximately $1.96 trillion and a forecasted earnings per share of 26.7 for the current year.

Condor Capital Management lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,470 shares of the social networking company's stock after selling 574 shares during the period. Meta Platforms makes up 1.6% of Condor Capital Management's portfolio, making the stock its 15th biggest position. Condor Capital Management's holdings in Meta Platforms were worth $17,562,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after acquiring an additional 570 shares during the period. Revolve Wealth Partners LLC raised its stake in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after buying an additional 7,587 shares in the last quarter. Highview Capital Management LLC DE raised its position in shares of Meta Platforms by 3.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock valued at $3,624,000 after buying an additional 218 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Meta Platforms during the 4th quarter worth approximately $2,243,603,000. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

META has been the topic of a number of analyst reports. TD Securities reduced their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Evercore ISI lifted their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Needham & Company LLC upgraded shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research note on Thursday, July 3rd. Scotiabank upped their price target on shares of Meta Platforms from $675.00 to $685.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Barclays boosted their target price on Meta Platforms from $640.00 to $810.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $822.41.

Meta Platforms Stock Performance

Meta Platforms stock traded up $4.22 during mid-day trading on Friday, reaching $786.35. 8,081,036 shares of the company traded hands, compared to its average volume of 15,297,497. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 1.62 and a beta of 1.27. The firm's fifty day moving average is $722.68 and its two-hundred day moving average is $654.81.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating the consensus estimate of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business's revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.16 EPS. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's dividend payout ratio is 7.60%.

Insider Activity

In related news, insider Jennifer Newstead sold 515 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $776.38, for a total transaction of $399,835.70. Following the sale, the insider directly owned 25,035 shares of the company's stock, valued at approximately $19,436,673.30. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher K. Cox sold 15,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $767.80, for a total transaction of $11,517,000.00. Following the transaction, the insider directly owned 222,205 shares in the company, valued at approximately $170,608,999. The trade was a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 269,243 shares of company stock valued at $200,605,051. 13.61% of the stock is currently 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.