Intellectus Partners LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 58.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,158 shares of the social networking company's stock after selling 25,969 shares during the period. Meta Platforms accounts for approximately 2.6% of Intellectus Partners LLC's holdings, making the stock its 4th biggest position. Intellectus Partners LLC's holdings in Meta Platforms were worth $10,466,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Millstone Evans Group LLC bought a new stake in Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms in the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. bought a new stake in Meta Platforms in the 4th quarter valued at $47,000. Finally, Conquis Financial LLC bought a new stake in Meta Platforms in the 4th quarter valued at $59,000. 79.91% of the stock is owned by institutional investors.
Meta Platforms Trading Up 1.9%
Shares of NASDAQ META traded up $13.09 during mid-day trading on Friday, hitting $697.71. The company's stock had a trading volume of 11,707,462 shares, compared to its average volume of 14,510,579. The stock has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. 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 one year low of $442.65 and a one year high of $740.91. The company's fifty day simple moving average is $585.44 and its 200-day simple moving average is $613.90.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.71 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. 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 (DPR) is presently 8.19%.
Insider Activity
In related news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now owns 5,622 shares of the company's stock, valued at $2,744,547.96. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the transaction, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. The trade was a 23.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,171 shares of company stock valued at $35,163,457. 13.61% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
META has been the subject of a number of research reports. Citigroup increased their price target on shares of Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Roth Capital increased their price objective on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Wedbush increased their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Scotiabank dropped their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $702.48.
Get Our Latest Stock Analysis on META
About Meta Platforms
(
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.
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