Maj Invest Holding A S Sells 12,121 Shares of Meta Platforms, Inc. (NASDAQ:META)

Maj Invest Holding A S cut its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 208,257 shares of the social networking company's stock after selling 12,121 shares during the quarter. Meta Platforms makes up 4.3% of Maj Invest Holding A S's portfolio, making the stock its 14th biggest holding. Maj Invest Holding A S's holdings in Meta Platforms were worth $120,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Inlight Wealth Management LLC acquired a new position in Meta Platforms during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Meta Platforms during the first quarter worth $28,000. Millstone Evans Group LLC acquired a new position in Meta Platforms during the fourth quarter worth $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the fourth quarter worth $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the fourth quarter worth $45,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

NASDAQ META traded down $9.73 during trading on Friday, reaching $717.51. 10,855,962 shares of the company traded hands, compared to its average volume of 14,460,014. The company has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The stock's 50 day moving average price is $674.77 and its two-hundred day moving average price is $634.35.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.71 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares of the company's stock, valued at $82,928,955.27. The trade was a 10.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,792 shares of company stock valued at $105,466,325 in the last three months. 13.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on META. Rosenblatt Securities increased their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Monness Crespi & Hardt increased 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. UBS Group reaffirmed a "buy" rating and issued a $812.00 price target (up from $683.00) on shares of Meta Platforms in a research report on Thursday, June 26th. Raymond James Financial lowered their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. Finally, TD Securities lowered their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $729.38.

About Meta Platforms

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.