Congress Park Capital LLC Sells 1,232 Shares of Meta Platforms, Inc. (NASDAQ:META)

Congress Park Capital LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,477 shares of the social networking company's stock after selling 1,232 shares during the quarter. Meta Platforms accounts for approximately 2.9% of Congress Park Capital LLC's holdings, making the stock its 13th biggest holding. Congress Park Capital LLC's holdings in Meta Platforms were worth $7,768,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms during the 4th quarter worth about $47,000. Finally, Principia Wealth Advisory LLC lifted its position in 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 buying an additional 30 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Meta Platforms Price Performance

NASDAQ META opened at $682.35 on Monday. The business has a 50 day simple moving average of $618.10 and a 200 day simple moving average of $623.24. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.68 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 analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the prior year, the business earned $4.71 EPS. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio is currently 8.19%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on META. Pivotal Research reduced their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Scotiabank reduced their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research report on Monday, April 21st. JMP Securities reiterated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. Oppenheimer upped their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Finally, Morgan Stanley upped their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average price target of $710.00.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 406 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares of the company's stock, valued at $2,265,707.52. This trade represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total value of $577,513.05. Following the sale, the insider now directly owns 31,182 shares of the company's stock, valued at $19,552,673.10. This represents a 2.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,423 shares of company stock valued at $73,580,663 in the last ninety days. 13.61% of the stock is currently owned by corporate insiders.

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.

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