Kintegral Advisory LLC Cuts Stake in Meta Platforms, Inc. (NASDAQ:META)

Kintegral Advisory LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 32.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor 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 position. Kintegral Advisory LLC's holdings in Meta Platforms were worth $7,041,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of META. Vanguard Group Inc. grew its position in shares of Meta Platforms by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares in the last quarter. Capital World Investors grew its position in shares of Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after purchasing an additional 1,141,355 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Meta Platforms during the fourth quarter valued at about $19,949,512,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on META. Wedbush raised their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. KeyCorp raised their price objective on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Loop Capital increased their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. TD Securities lowered their price target on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Stifel Nicolaus increased their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Five 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. According to MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $727.95.

Meta Platforms Trading Down 0.8%

Shares of Meta Platforms stock traded down $5.54 on Thursday, hitting $727.24. 9,905,148 shares of the company traded hands, compared to its average volume of 14,503,230. The stock's 50 day moving average price is $672.36 and its 200-day moving average price is $633.41. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The company has a market cap of $1.83 trillion, a PE ratio of 28.36, a PEG ratio of 1.80 and a beta of 1.28.

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

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer directly owned 70,040 shares of the company's stock, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,792 shares of company stock valued at $105,466,325 over the last ninety days. 13.61% of the stock is owned by company insiders.

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.