Franklin Street Advisors Inc. NC lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,521 shares of the social networking company's stock after selling 7,551 shares during the quarter. Meta Platforms accounts for approximately 3.4% of Franklin Street Advisors Inc. NC's holdings, making the stock its 6th biggest position. Franklin Street Advisors Inc. NC's holdings in Meta Platforms were worth $47,562,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the stock. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC boosted its position 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 valued at $50,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Activity
In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $701.00, for a total transaction of $363,819.00. Following the transaction, the insider now owns 29,183 shares of the company's stock, valued at approximately $20,457,283. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer now directly owns 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,201 shares of company stock worth $56,377,837 over the last three months. 13.61% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. Roth Capital increased their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Rosenblatt Securities raised their price target on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company cut their price target on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. JMP Securities restated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $704.26.
Get Our Latest Stock Report on META
Meta Platforms Stock Performance
Shares of NASDAQ:META traded down $0.78 during trading on Thursday, hitting $693.36. The stock had a trading volume of 7,303,916 shares, compared to its average volume of 14,503,798. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The stock has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. 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 50-day simple moving average of $597.08 and a two-hundred day simple moving average of $617.62.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the business earned $4.71 earnings per share. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.
Meta Platforms Company Profile
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Free Report)
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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