Intergy Private Wealth LLC Sells 906 Shares of Meta Platforms, Inc. (NASDAQ:META)

Intergy Private Wealth LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 42.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,246 shares of the social networking company's stock after selling 906 shares during the period. Intergy Private Wealth LLC's holdings in Meta Platforms were worth $718,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fiduciary Planning LLC grew its stake in shares of Meta Platforms by 12.3% during the first quarter. Fiduciary Planning LLC now owns 3,662 shares of the social networking company's stock worth $2,110,000 after buying an additional 400 shares during the last quarter. AAFMAA Wealth Management & Trust LLC bought a new position in shares of Meta Platforms during the first quarter valued at $1,267,000. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in shares of Meta Platforms by 49.2% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 20,599 shares of the social networking company's stock worth $11,872,000 after purchasing an additional 6,789 shares during the period. Sara Bay Financial increased its holdings in Meta Platforms by 4.7% in the first quarter. Sara Bay Financial now owns 29,577 shares of the social networking company's stock valued at $17,058,000 after purchasing an additional 1,327 shares during the period. Finally, City State Bank increased its holdings in Meta Platforms by 1.1% in the first quarter. City State Bank now owns 1,865 shares of the social networking company's stock valued at $1,075,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 517 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $644.93, for a total value of $333,428.81. Following the transaction, the chief operating officer now owns 9,921 shares of the company's stock, valued at approximately $6,398,350.53. This represents a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $671.00, for a total value of $348,249.00. Following the sale, the insider now directly owns 29,702 shares of the company's stock, valued at $19,930,042. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,171 shares of company stock valued at $35,163,457 over the last three months. Company insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 price objective on shares of Meta Platforms in a research note on Wednesday, April 30th. Barclays lowered their target price on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Raymond James cut their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research note on Thursday, May 1st. UBS Group boosted their price objective on Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, TD Securities dropped their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus price target of $702.48.

Meta Platforms Stock Performance

NASDAQ:META traded up $13.09 on Friday, reaching $697.71. 11,707,462 shares of the company's stock were exchanged, compared to its average volume of 14,531,332. The firm has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 1.42 and a beta of 1.26. 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 stock has a fifty day simple moving average of $587.67 and a 200-day simple moving average of $615.18. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.71 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current 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 given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio is currently 8.19%.

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.