Focused Wealth Management Inc Sells 761 Shares of Meta Platforms, Inc. (NASDAQ:META)

Focused Wealth Management Inc decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,459 shares of the social networking company's stock after selling 761 shares during the quarter. Meta Platforms comprises approximately 0.8% of Focused Wealth Management Inc's holdings, making the stock its 24th largest position. Focused Wealth Management Inc's holdings in Meta Platforms were worth $6,028,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter worth $19,949,512,000. GAMMA Investing LLC boosted its stake in Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Raymond James Financial Inc. purchased a new position in Meta Platforms during the 4th quarter worth approximately $2,243,603,000. Northern Trust Corp grew its position in Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Meta Platforms by 712.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock valued at $1,462,589,000 after purchasing an additional 2,225,186 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Price Performance

META traded up $2.87 during midday trading on Friday, hitting $704.28. The company had a trading volume of 12,726,009 shares, compared to its average volume of 14,359,025. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The company has a market capitalization of $1.77 trillion, a PE ratio of 27.47, a P/E/G ratio of 1.72 and a beta of 1.28. 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 firm's 50-day simple moving average is $683.85 and its 200-day simple moving average is $637.15.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms's revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.71 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is 8.19%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $723.08, for a total value of $375,278.52. Following the transaction, the insider directly owned 26,588 shares of the company's stock, valued at approximately $19,225,251.04. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 517 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $717.50, for a total transaction of $370,947.50. Following the sale, the chief operating officer owned 6,819 shares of the company's stock, valued at $4,892,632.50. The trade was a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,764 shares of company stock valued at $105,721,208 in the last three months. Company insiders own 13.61% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on META shares. Moffett Nathanson raised their target price on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Barclays lowered their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. DA Davidson dropped their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Loop Capital raised their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $735.00 to $795.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $736.05.

About Meta Platforms

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.