M3 Advisory Group LLC Sells 586 Shares of Meta Platforms, Inc. (NASDAQ:META)

M3 Advisory Group LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 32.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,228 shares of the social networking company's stock after selling 586 shares during the period. M3 Advisory Group LLC's holdings in Meta Platforms were worth $708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fjell Capital LLC purchased a new stake in Meta Platforms in the 4th quarter worth $1,836,000. Opulen Financial Group LLC bought a new position in shares of Meta Platforms in the fourth quarter worth about $325,000. Daner Wealth Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $334,000. Brighton Jones LLC raised its stake in Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Meta Platforms during the 4th quarter valued at approximately $112,406,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.5%

Shares of META traded down $3.52 during trading hours on Wednesday, reaching $708.68. 9,278,251 shares of the company traded hands, compared to its average volume of 16,217,372. The stock's fifty day moving average price is $625.25 and its 200 day moving average price is $624.38. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.78 trillion, a price-to-earnings ratio of 27.64, a PEG ratio of 1.72 and a beta of 1.26. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) 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 net margin of 39.11% and a return on equity of 38.69%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.71 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued 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 dividend yield of 0.30%. Meta Platforms's payout ratio is 8.19%.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $563.03, for a total transaction of $342,322.24. Following the transaction, the chief operating officer now directly owns 6,230 shares in the company, valued at $3,507,676.90. This represents a 8.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 1,462 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 139,538 shares in the company, valued at $97,834,277.94. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,002 shares of company stock valued at $73,353,340 over the last quarter. 13.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities increased their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Piper Sandler lifted their price target on shares of Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Citigroup increased their price objective on shares of Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a report on Tuesday. Finally, 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. One investment 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 given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $712.69.

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.