DMC Group LLC Reduces Stock Position in Meta Platforms, Inc. (NASDAQ:META)

DMC Group LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,215 shares of the social networking company's stock after selling 350 shares during the quarter. Meta Platforms accounts for 2.4% of DMC Group LLC's portfolio, making the stock its 6th largest position. DMC Group LLC's holdings in Meta Platforms were worth $3,006,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Suvretta Capital Management LLC increased its stake in shares of Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after buying an additional 1,850 shares in the last quarter. Skye Global Management LP increased its stake in shares of Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after buying an additional 43,200 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after acquiring an additional 1,229,350 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Meta Platforms by 25.1% in the fourth quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock valued at $215,760,000 after acquiring an additional 73,907 shares during the last quarter. Finally, Arcadia Wealth Management Inc. bought a new position in Meta Platforms in the fourth quarter valued at about $600,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 465 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the completion of the sale, the director owned 9,342 shares of the company's stock, valued at approximately $6,755,013.36. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $723.08, for a total value of $375,278.52. Following the completion of the sale, the insider directly owned 26,588 shares of the company's stock, valued at $19,225,251.04. This trade represents a 1.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,764 shares of company stock worth $105,721,208. 13.61% of the stock is currently owned by insiders.

Meta Platforms Trading Down 0.3%

NASDAQ META traded down $2.14 during trading hours on Friday, hitting $699.27. 7,718,877 shares of the company's stock were exchanged, compared to its average volume of 14,340,713. The stock has a 50-day simple moving average of $683.85 and a 200 day simple moving average of $637.15. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The firm has a market cap of $1.76 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.72 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm posted $4.71 earnings per share. The firm's revenue was up 16.1% on a year-over-year basis. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms's dividend payout ratio is currently 8.19%.

Analyst Ratings Changes

Several equities analysts recently issued reports on META shares. Evercore ISI raised their price target on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Loop Capital raised their target price on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Scotiabank reduced their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Pivotal Research reduced their target price on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $828.00 target price (up previously from $807.00) on shares of Meta Platforms in a report on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $736.05.

Meta Platforms Company 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.