Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.

Key Points

• Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. reduced its holdings in Meta Platforms by 36.6%, owning 27,758 shares after selling 16,001 shares in the first quarter.
• Meta Platforms reported a Q1 earnings per share (EPS) of $6.43, surpassing analysts' expectations of $5.33, with quarterly revenue up 16.1% year-over-year.
• CEO Mark Zuckerberg and CFO Susan J. Li both sold significant amounts of Meta stock, with Zuckerberg selling 13,793 shares for nearly $9.67 million, reflecting a 10.44% decrease in his ownership.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 36.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,758 shares of the social networking company's stock after selling 16,001 shares during the period. Meta Platforms makes up about 3.2% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s investment portfolio, making the stock its 10th largest position. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in Meta Platforms were worth $15,999,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms during the first quarter valued at about $28,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the fourth quarter worth about $45,000. Finally, JCIC Asset Management Inc. increased its position in shares of Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after acquiring an additional 40 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

NASDAQ META opened at $712.68 on Friday. Meta Platforms, Inc. has a 1 year low of $450.80 and a 1 year high of $747.90. The company has a fifty day simple moving average of $692.48 and a 200 day simple moving average of $641.78. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.79 trillion, a P/E ratio of 27.80, a P/E/G ratio of 1.71 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly 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 company 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%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.71 earnings per share. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the sale, the chief executive officer directly owned 118,279 shares of the company's stock, valued at approximately $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction on Thursday, May 15th. The stock was 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 in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,473 shares of company stock valued at $105,805,440 in the last three months. Company insiders own 13.61% of the company's stock.

Analyst Ratings Changes

META has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company increased their target price on Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Benchmark raised their target price on Meta Platforms from $640.00 to $800.00 and gave the stock a "buy" rating in a research report on Wednesday. Oppenheimer upped their price target on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. Finally, Bank of America increased their price objective on Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $752.33.

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.

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