Kintegral Advisory LLC Lowers Position in Meta Platforms, Inc. (NASDAQ:META)

Kintegral Advisory LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 32.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,216 shares of the social networking company's stock after selling 5,992 shares during the period. Meta Platforms accounts for approximately 1.1% of Kintegral Advisory LLC's holdings, making the stock its 18th biggest holding. Kintegral Advisory LLC's holdings in Meta Platforms were worth $7,041,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Suvretta Capital Management LLC raised its position in shares of Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after acquiring an additional 1,850 shares during the period. Skye Global Management LP raised its position in shares of Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after acquiring an additional 43,200 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of Meta Platforms by 255.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after acquiring an additional 1,229,350 shares during the period. Quantinno Capital Management LP raised its position in shares of Meta Platforms by 25.1% in the 4th quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock valued at $215,760,000 after acquiring an additional 73,907 shares during the period. Finally, Arcadia Wealth Management Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $600,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

META stock traded down $9.73 during midday trading on Friday, reaching $717.51. The company had a trading volume of 10,847,750 shares, compared to its average volume of 14,488,679. The company has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.80 and a beta of 1.28. The stock has a 50 day moving average price of $672.36 and a 200-day moving average price of $633.41. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

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

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 2,361 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 517 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $717.51, for a total value of $370,952.67. Following the completion of the transaction, the chief operating officer directly owned 7,336 shares in the company, valued at approximately $5,263,653.36. This trade represents a 6.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,792 shares of company stock worth $105,466,325. Insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on META shares. Raymond James Financial cut their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on Meta Platforms from $735.00 to $795.00 and gave the stock an "overweight" rating in a research note on Friday. Stifel Nicolaus increased their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. DA Davidson lowered their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Guggenheim increased their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $729.38.

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.