Black Swift Group LLC Sells 5,031 Shares of Meta Platforms, Inc. (NASDAQ:META)

Black Swift Group LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 76.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,575 shares of the social networking company's stock after selling 5,031 shares during the quarter. Black Swift Group LLC's holdings in Meta Platforms were worth $908,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Valley Financial Group Inc. increased its stake in Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after purchasing an additional 14 shares during the period. Lantern Wealth Advisors LLC increased its stake in shares of Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after acquiring an additional 14 shares during the period. Riverwater Partners LLC boosted its holdings in Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after buying an additional 15 shares in the last quarter. ABLE Financial Group LLC boosted its holdings in Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after buying an additional 15 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC boosted its holdings in Meta Platforms by 1.2% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock worth $840,000 after buying an additional 17 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Down 2.7%

NASDAQ META traded down $20.68 during trading hours on Friday, reaching $752.76. 10,386,821 shares of the company's stock were exchanged, compared to its average volume of 15,597,535. The company's 50-day moving average is $699.22 and its two-hundred day moving average is $644.61. Meta Platforms, Inc. has a one year low of $450.80 and a one year high of $784.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping the consensus estimate of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 40.31%. The business's quarterly revenue was up 21.6% on a year-over-year basis. During the same period last year, the business earned $5.16 EPS. On average, analysts forecast 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 paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the sale, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the sale, the chief executive officer directly owned 118,279 shares of the company's stock, valued at $82,928,955.27. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,980 shares of company stock valued at $105,708,832. 13.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on META shares. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $780.00 to $860.00 and gave the company a "buy" rating in a research note on Thursday. Barclays increased their price objective on shares of Meta Platforms from $640.00 to $810.00 and gave the stock an "overweight" rating in a research report on Friday. Bank of America increased their price objective on shares of Meta Platforms from $775.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday. TD Securities decreased their target price 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. Finally, Citizens Jmp increased their price objective on shares of Meta Platforms from $750.00 to $900.00 and gave the company an "outperform" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, forty have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and an average target price of $815.09.

Meta Platforms 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.