Mezzasalma Advisors LLC Has $21.79 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Mezzasalma Advisors LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,811 shares of the social networking company's stock after selling 971 shares during the period. Meta Platforms comprises about 7.5% of Mezzasalma Advisors LLC's investment portfolio, making the stock its largest holding. Mezzasalma Advisors LLC's holdings in Meta Platforms were worth $21,793,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of META. Fjell Capital LLC bought a new stake in Meta Platforms in the 4th quarter valued at $1,836,000. Opulen Financial Group LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $325,000. Daner Wealth Management LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $334,000. Brighton Jones LLC lifted its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Meta Platforms during the fourth quarter worth about $112,406,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent research reports. Loop Capital lifted their target price on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. TD Securities decreased their price target on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities boosted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. DA Davidson decreased their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, KeyCorp lifted their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $710.00.

Meta Platforms Stock Performance

META stock traded down $13.42 during mid-day trading on Friday, hitting $682.35. 22,498,010 shares of the company were exchanged, compared to its average volume of 14,533,861. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The stock has a market capitalization of $1.72 trillion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26. The business has a 50 day simple moving average of $615.32 and a 200-day simple moving average of $622.60. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

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, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business 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 firm's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities analysts forecast 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 will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,753 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $700.43, for a total transaction of $1,928,283.79. Following the transaction, the chief executive officer now owns 85,619 shares in the company, valued at $59,970,116.17. This represents a 3.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.00, for a total transaction of $363,819.00. Following the transaction, the insider now directly owns 29,183 shares in the company, valued at $20,457,283. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,512 shares of company stock valued at $73,590,232. 13.61% of the stock is owned by company insiders.

About Meta Platforms

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.