Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,912 shares of the social networking company's stock after selling 1,499 shares during the quarter. Meta Platforms accounts for 2.4% of Azzad Asset Management Inc. ADV's investment portfolio, making the stock its 4th largest holding. Azzad Asset Management Inc. ADV's holdings in Meta Platforms were worth $20,698,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the 4th quarter valued at about $45,000. Stuart Chaussee & Associates Inc. bought a new stake in Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC raised its stake in shares of Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

META stock opened at $682.87 on Friday. The business's 50-day moving average is $604.07 and its two-hundred day moving average is $619.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market capitalization of $1.72 trillion, a P/E ratio of 28.55, a P/E/G ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly 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 analysts' expectations of $41.45 billion. During the same period last year, the firm earned $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company 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 $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis 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 7,802 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $701.96, for a total transaction of $5,476,691.92. Following the transaction, the chief executive officer now directly owns 110,477 shares of the company's stock, valued at approximately $77,550,434.92. This trade represents a 6.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.00, for a total value of $363,819.00. Following the transaction, the insider now directly owns 29,183 shares in the company, valued at approximately $20,457,283. This represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,201 shares of company stock worth $56,377,837 in the last quarter. 13.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on META shares. KeyCorp lifted their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Bank of America upped their price objective on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. UBS Group upped their target price on Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Monness Crespi & Hardt lifted their price target on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $704.26.

Meta Platforms Company 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.

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