Mcdaniel Terry & Co. Sells 404 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mcdaniel Terry & Co. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 18.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,783 shares of the social networking company's stock after selling 404 shares during the period. Mcdaniel Terry & Co.'s holdings in Meta Platforms were worth $1,028,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Inlight Wealth Management LLC acquired a new position in Meta Platforms during the first quarter valued at $25,000. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $45,000. Finally, JCIC Asset Management Inc. boosted its holdings in shares of Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after purchasing an additional 40 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $3.34 during mid-day trading on Thursday, hitting $716.91. 8,601,653 shares of the stock were exchanged, compared to its average volume of 14,572,054. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The stock's fifty day simple moving average is $651.82 and its two-hundred day simple moving average is $628.50. 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 company has a market cap of $1.80 trillion, a P/E ratio of 27.96, a PEG ratio of 1.75 and a beta of 1.28.

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 for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the firm posted $4.71 EPS. The business's revenue was up 16.1% on a year-over-year basis. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $740.97, for a total transaction of $383,081.49. Following the completion of the sale, the chief operating officer directly owned 7,853 shares of the company's stock, valued at approximately $5,818,837.41. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,285 shares of company stock valued at $105,518,153 in the last 90 days. 13.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Barclays reduced their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Moffett Nathanson boosted their target price on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Raymond James Financial reduced their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a report on Thursday, May 1st. Finally, Loop Capital increased their price objective on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $719.29.

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.