CGN Advisors LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,253 shares of the social networking company's stock after selling 1,157 shares during the period. CGN Advisors LLC's holdings in Meta Platforms were worth $5,333,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of META. Valley Financial Group Inc. boosted its holdings in Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC lifted its position in Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after acquiring an additional 14 shares during the period. Seelaus Asset Management LLC grew its stake in shares of Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning raised its holdings in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after buying an additional 15 shares during the last quarter. Finally, Maiden Cove Capital LLC boosted its stake in Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Stock Up 3.2%
Shares of NASDAQ META traded up $21.10 during midday trading on Wednesday, hitting $687.95. 14,007,287 shares of the company's stock were exchanged, compared to its average volume of 14,486,812. 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's fifty day simple moving average is $581.05 and its 200-day simple moving average is $612.48. The company has a market cap of $1.73 trillion, a PE ratio of 28.76, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping 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 business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 EPS. The company's revenue was up 16.1% compared to the same quarter last year. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.
Insiders Place Their Bets
In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the company's 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 completion of the sale, the chief technology officer now owns 16,463 shares of the company's stock, valued at $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 55,135 shares of company stock worth $34,481,779. Insiders own 13.61% of the company's stock.
Analysts Set New Price Targets
META has been the subject of a number of analyst reports. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a research report on Tuesday, February 11th. The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and set a $750.00 target price on shares of Meta Platforms in a research report on Wednesday, April 30th. TD Securities decreased their price objective 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, KeyCorp boosted their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. One 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $702.48.
View Our Latest Research Report 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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