Hollencrest Capital Management Sells 3,764 Shares of Meta Platforms, Inc. (NASDAQ:META)

Hollencrest Capital Management cut its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 36.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,424 shares of the social networking company's stock after selling 3,764 shares during the quarter. Hollencrest Capital Management's holdings in Meta Platforms were worth $3,702,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new position in Meta Platforms during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms during the first quarter worth about $28,000. Millstone Evans Group LLC bought a new position in Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter valued at about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the 4th quarter valued at about $45,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ META traded down $2.12 during trading on Friday, hitting $712.68. 8,253,539 shares of the company's stock traded hands, compared to its average volume of 10,556,341. The stock has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.71 and a beta of 1.28. Meta Platforms, Inc. has a 12-month low of $450.80 and a 12-month high of $747.90. 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 business has a 50 day moving average of $692.48 and a 200-day moving average of $641.78.

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. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the prior year, the business posted $4.71 earnings per share. The company's revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.

Wall Street Analyst Weigh In

META has been the topic of several recent analyst reports. Citigroup reissued a "buy" rating on shares of Meta Platforms in a report on Tuesday, July 15th. Scotiabank raised their target price on shares of Meta Platforms from $525.00 to $675.00 and gave the company a "sector perform" rating in a report on Tuesday. UBS Group reissued a "buy" rating and issued a $812.00 target price (up from $683.00) on shares of Meta Platforms in a report on Thursday, June 26th. Bank of America raised their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Barclays decreased their target price on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $752.33.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 2,361 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert M. Kimmitt sold 465 shares of the company'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 transaction of $336,232.20. Following the completion of the transaction, the director owned 9,342 shares in the company, valued at approximately $6,755,013.36. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,473 shares of company stock valued at $105,805,440. Corporate insiders own 13.61% of the company's stock.

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.