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Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Xponance Inc.

Meta Platforms logo with Computer and Technology background

Xponance Inc. lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 528,137 shares of the social networking company's stock after selling 21,954 shares during the period. Meta Platforms comprises approximately 2.9% of Xponance Inc.'s portfolio, making the stock its 5th largest position. Xponance Inc.'s holdings in Meta Platforms were worth $304,397,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms in the first quarter valued at $28,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the fourth quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the fourth quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $1.80 during mid-day trading on Thursday, reaching $701.11. 7,915,056 shares of the stock were exchanged, compared to its average volume of 15,675,123. The company has a market cap of $1.76 trillion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $681.78 and a 200 day simple moving average of $636.39. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.71 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

Several analysts have commented on the company. Loop Capital upped their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Robert W. Baird increased their price objective on Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $735.00 to $795.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Oppenheimer increased their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. Finally, Evercore ISI increased their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $736.05.

View Our Latest Stock Analysis on META

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer directly owned 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer directly owned 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,780 shares of company stock worth $105,009,697. Insiders own 13.61% of the company's stock.

Meta Platforms Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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