Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. reduced its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 19.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,205 shares of the social networking company's stock after selling 2,428 shares during the quarter. Cabot Wealth Management Inc.'s holdings in Meta Platforms were worth $5,882,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in Meta Platforms during the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the 4th quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $47,000. Finally, Principia Wealth Advisory LLC boosted its stake in Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $682.35 on Monday. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. 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 cap of $1.72 trillion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.68 and a beta of 1.26. The firm's 50-day moving average is $618.10 and its 200-day moving average is $623.24.

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 net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the previous year, the firm posted $4.71 earnings per share. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on META shares. Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. Benchmark cut their target price on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Raymond James Financial cut their price objective on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a report on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and set a $750.00 price objective on shares of Meta Platforms in a research report on Wednesday, April 30th. Finally, Morgan Stanley increased their price objective on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $710.00.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 8,312 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $702.13, for a total value of $5,836,104.56. Following the transaction, the chief executive officer now directly owns 88,372 shares in the company, valued at $62,048,632.36. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan J. Li sold 6,874 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 $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,423 shares of company stock worth $73,580,663 in the last three months. Insiders own 13.61% of the company's stock.

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.

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