Clare Market Investments LLC Sells 583 Shares of Meta Platforms, Inc. (NASDAQ:META)

Clare Market Investments LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 26,284 shares of the social networking company's stock after selling 583 shares during the period. Meta Platforms accounts for about 4.0% of Clare Market Investments LLC's holdings, making the stock its 5th biggest position. Clare Market Investments LLC's holdings in Meta Platforms were worth $15,149,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms in the 4th quarter worth $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms in the fourth quarter valued at $47,000. Finally, Conquis Financial LLC purchased a new stake in Meta Platforms during the fourth quarter valued at about $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 517 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $644.93, for a total transaction of $333,428.81. Following the completion of the sale, the chief operating officer now owns 9,921 shares in the company, valued at approximately $6,398,350.53. This trade represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,652 shares of company stock worth $34,815,208. 13.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on META shares. JPMorgan Chase & Co. raised their price objective on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a report on Wednesday. Morgan Stanley increased their target price on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Benchmark cut their price target on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Roth Capital lifted their price target on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Bank of America increased their price objective on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $702.48.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded down $3.33 during trading hours on Thursday, hitting $684.62. The stock had a trading volume of 13,062,206 shares, compared to its average volume of 14,506,457. The stock's fifty day simple moving average is $583.27 and its 200 day simple moving average is $613.00. The firm has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 28.62, a PEG ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $4.71 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms's payout ratio is 8.19%.

Meta Platforms Company 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.