Integrated Advisors Network LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,081 shares of the social networking company's stock after selling 4,040 shares during the period. Integrated Advisors Network LLC's holdings in Meta Platforms were worth $10,998,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new position in Meta Platforms in the fourth quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the 4th quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms in the 4th quarter worth about $47,000. Finally, Principia Wealth Advisory LLC boosted its position in Meta Platforms by 53.6% during the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on META. TD Securities cut their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. DA Davidson reduced their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Moffett Nathanson increased their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Susquehanna cut their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average price target of $702.48.
Check Out Our Latest Stock Report on META
Insider Buying and Selling at Meta Platforms
In related news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $607.50, for a total value of $369,360.00. Following the completion of the sale, the chief operating officer now owns 7,446 shares in the company, valued at $4,523,445. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 1,462 shares of Meta Platforms stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the sale, the chief executive officer now owns 139,538 shares of the company's stock, valued at approximately $97,834,277.94. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,682 shares of company stock valued at $56,014,018. 13.61% of the stock is owned by company insiders.
Meta Platforms Stock Performance
Shares of Meta Platforms stock traded down $1.88 during trading on Thursday, reaching $692.26. The company's stock had a trading volume of 3,754,666 shares, compared to its average volume of 14,480,069. The firm has a market cap of $1.74 trillion, a PE ratio of 28.94, a P/E/G ratio of 1.42 and a beta of 1.26. The company has a 50-day moving average price of $597.08 and a two-hundred day moving average price of $617.62. The company has a current ratio of 2.98, a quick ratio of 2.98 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 $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly 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 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the company posted $4.71 earnings per share. The business's revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.
Meta Platforms 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.
Further Reading
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