Meta Platforms, Inc. (NASDAQ:META) is Legacy Advisors LLC's 10th Largest Position

Legacy Advisors LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,717 shares of the social networking company's stock after selling 1,197 shares during the quarter. Meta Platforms comprises 2.1% of Legacy Advisors LLC's holdings, making the stock its 10th biggest position. Legacy Advisors LLC's holdings in Meta Platforms were worth $20,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Inlight Wealth Management LLC acquired a new stake in shares of Meta Platforms in the first quarter worth $25,000. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms during the fourth quarter worth $45,000. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in Meta Platforms during the fourth quarter worth $47,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $563.03, for a total value of $342,322.24. Following the completion of the transaction, the chief operating officer now owns 6,230 shares of the company's stock, valued at $3,507,676.90. This trade represents a 8.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total transaction of $453,012.27. Following the completion of the transaction, the insider now directly owns 27,498 shares of the company's stock, valued at $13,525,441.26. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,831 shares of company stock valued at $83,868,872 in the last 90 days. Company insiders own 13.61% of the company's stock.

Meta Platforms Trading Up 1.0%

Shares of META stock traded up $7.54 on Friday, hitting $733.63. The stock had a trading volume of 18,758,104 shares, compared to its average volume of 14,544,676. The company's 50 day moving average price is $633.87 and its 200-day moving average price is $625.73. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The firm has a market capitalization of $1.84 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.79 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

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

Meta Platforms Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on META shares. JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Susquehanna lowered their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. Scotiabank decreased their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Finally, TD Securities decreased their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and an average price target of $719.52.

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.