Meta Platforms, Inc. $META Holdings Decreased by AlTi Global Inc.

AlTi Global Inc. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,041 shares of the social networking company's stock after selling 1,004 shares during the period. AlTi Global Inc.'s holdings in Meta Platforms were worth $9,177,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in META. RHL Group LLC bought a new position in Meta Platforms in the 4th quarter valued at about $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $29,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $42,000. Bayban increased its position in shares of Meta Platforms by 100.0% during the 1st quarter. Bayban now owns 70 shares of the social networking company's stock worth $40,000 after purchasing an additional 35 shares in the last quarter. Finally, Key Capital Management INC bought a new stake in Meta Platforms during the 4th quarter worth about $48,000. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

META has been the subject of a number of analyst reports. Piper Sandler started coverage on Meta Platforms in a research note on Tuesday, June 2nd. They set an "overweight" rating for the company. Guggenheim reduced their price objective on shares of Meta Platforms from $850.00 to $800.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $810.00 price objective on shares of Meta Platforms in a research note on Monday, June 1st. Truist Financial lowered their target price on Meta Platforms from $900.00 to $840.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group cut Meta Platforms from a "buy" rating to a "sell" rating in a research note on Tuesday, June 2nd. Five research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $835.64.

Key Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: A new free verification badge system for Facebook users, which may improve trust and platform quality. Fast Company article
• Positive Sentiment: A dedicated Marketplace seller app with tools for merchants, aimed at making Facebook commerce more useful and organized. Reuters article
• Positive Sentiment: Wall Street commentary remained constructive, with articles highlighting Meta as a strong momentum stock and a potentially attractive AI-era value name.
• Positive Sentiment: Analyst sentiment stayed favorable, including a report that Wells Fargo raised its price target on Meta to $835.00.

Meta Platforms Price Performance

META stock opened at $595.19 on Friday. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a market cap of $1.51 trillion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 1.02 and a beta of 1.25. The company has a 50 day simple moving average of $604.51 and a 200 day simple moving average of $625.76.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating analysts' consensus estimates of $6.67 by $3.77. The company had revenue of $56.31 billion during the quarter, compared to analysts' expectations of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.Meta Platforms's revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the company earned $6.43 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 29.49 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 15th. Meta Platforms's payout ratio is 7.63%.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 1,887 shares of the company's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $600.62, for a total value of $1,133,369.94. Following the sale, the chief operating officer owned 1,802 shares in the company, valued at approximately $1,082,317.24. The trade was a 51.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total value of $1,268,023.68. Following the transaction, the insider owned 1,118 shares of the company's stock, valued at $681,890.56. This trade represents a 65.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 37,948 shares of company stock worth $23,184,319 over the last three months. Company insiders own 13.53% of the company's stock.

About Meta Platforms

Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.