Means Investment CO. Inc. lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,928 shares of the social networking company's stock after selling 10,255 shares during the quarter. Meta Platforms accounts for about 2.0% of Means Investment CO. Inc.'s holdings, making the stock its 14th biggest position. Means Investment CO. Inc.'s holdings in Meta Platforms were worth $18,402,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of META. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC raised its position in shares of Meta Platforms by 53.6% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Analyst Ratings Changes
Several research analysts have weighed in on the company. TD Securities cut their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Truist Financial boosted their price target on Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Rosenblatt Securities boosted their price target on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Pivotal Research cut their price target on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Monness Crespi & Hardt boosted their price target on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One research 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 issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $710.00.
View Our Latest Stock Report on META
Insider Activity
In related news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $614.97, for a total transaction of $373,901.76. Following the sale, the chief operating officer now owns 6,838 shares in the company, valued at approximately $4,205,164.86. This trade represents a 8.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,031 shares of company stock worth $73,954,565. 13.61% of the stock is currently owned by corporate insiders.
Meta Platforms Stock Down 1.9%
Shares of Meta Platforms stock traded down $13.42 during trading on Friday, reaching $682.35. The company had a trading volume of 22,498,010 shares, compared to its average volume of 14,512,174. The company has a market cap of $1.72 trillion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 1.68 and a beta of 1.26. The firm's fifty day moving average is $618.10 and its 200-day moving average is $623.24. 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 fifty-two week low of $442.65 and a fifty-two week high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.71 EPS. On average, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is presently 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.
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