Highview Capital Management LLC DE Sells 396 Shares of Meta Platforms, Inc. (NASDAQ:META)

Highview Capital Management LLC DE cut its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,793 shares of the social networking company's stock after selling 396 shares during the period. Meta Platforms makes up approximately 1.4% of Highview Capital Management LLC DE's holdings, making the stock its 21st biggest position. Highview Capital Management LLC DE's holdings in Meta Platforms were worth $3,339,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after acquiring an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares during the period. Capital World Investors lifted its holdings in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after acquiring an additional 1,141,355 shares during the period. Finally, Norges Bank bought a new position in shares of Meta Platforms during the 4th quarter worth about $19,949,512,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Down 1.3%

NASDAQ META traded down $9.73 during trading on Friday, reaching $717.51. 10,855,962 shares of the stock traded hands, compared to its average volume of 14,480,953. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.78 and a beta of 1.28. The stock's 50-day moving average price is $674.77 and its 200 day moving average price is $634.17. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.71 earnings per share. Analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed 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. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer owned 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,792 shares of company stock worth $105,466,325. 13.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

META has been the subject of a number of recent analyst reports. Piper Sandler reiterated an "overweight" rating and set a $808.00 target price (up previously from $650.00) on shares of Meta Platforms in a research report on Friday, June 27th. Evercore ISI increased their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Guggenheim increased their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company increased their target price on shares of Meta Platforms from $664.00 to $783.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Scotiabank dropped their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $729.38.

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.