Meta Platforms, Inc. (NASDAQ:META) is Shorepath Capital Management LLC's 3rd Largest Position

Shorepath Capital Management LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 19,223 shares of the social networking company's stock after selling 1,238 shares during the quarter. Meta Platforms comprises 8.4% of Shorepath Capital Management LLC's investment portfolio, making the stock its 3rd largest holding. Shorepath Capital Management LLC's holdings in Meta Platforms were worth $11,079,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms during the 4th quarter valued at about $45,000. Stuart Chaussee & Associates Inc. purchased a new position in Meta Platforms during the 4th quarter valued at about $47,000. Finally, Principia Wealth Advisory LLC grew its holdings in Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent analyst reports. Susquehanna reduced their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Roth Capital lifted their target price on Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, May 1st. DA Davidson reduced their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Pivotal Research reduced their target price 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, Jefferies Financial Group cut their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $702.48.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total transaction of $348,249.00. Following the completion of the sale, the insider now owns 29,702 shares in the company, valued at approximately $19,930,042. This trade represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the transaction, the chief technology officer now owns 16,463 shares of the company's stock, valued at $10,855,043.68. This represents a 23.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,563 shares of company stock worth $34,793,185. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 1.9%

Shares of NASDAQ:META opened at $697.71 on Monday. The company has a market cap of $1.75 trillion, a P/E ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock's fifty day moving average price is $587.67 and its 200-day moving average price is $615.55.

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

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

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.

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