Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lowered its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 508,880 shares of the social networking company's stock after selling 67,586 shares during the quarter. Meta Platforms accounts for about 3.8% of Montrusco Bolton Investments Inc.'s portfolio, making the stock its 11th biggest holding. Montrusco Bolton Investments Inc.'s holdings in Meta Platforms were worth $285,337,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Suvretta Capital Management LLC raised its holdings in shares of Meta Platforms by 1.1% during 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 buying an additional 1,850 shares during the period. Skye Global Management LP lifted its holdings in shares of Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after buying an additional 43,200 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in shares of Meta Platforms by 255.9% in the fourth 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 buying an additional 1,229,350 shares during the period. Quantinno Capital Management LP raised its position in shares of Meta Platforms by 25.1% during the fourth quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock worth $215,760,000 after purchasing an additional 73,907 shares during the period. Finally, Arcadia Wealth Management Inc. acquired a new position in Meta Platforms during the fourth quarter valued at $600,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Price Performance

META opened at $712.97 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The firm has a market cap of $1.79 trillion, a P/E ratio of 27.81, a PEG 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 has a 50-day moving average of $686.09 and a 200 day moving average of $638.61.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its 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. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the company earned $4.71 EPS. The company's quarterly revenue was up 16.1% compared to the same quarter last year. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer directly owned 1,183 shares of the company's stock, valued at $753,393.55. This represents a 94.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer owned 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,437 shares of company stock valued at $105,068,570. 13.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Evercore ISI upped their target price on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Stifel Nicolaus raised their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Bank of America raised their price target on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $735.00 to $795.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Citigroup reissued a "buy" rating on shares of Meta Platforms in a research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $738.37.

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.

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