Meta Platforms, Inc. (NASDAQ:META) Holdings Trimmed by Nvwm LLC

Key Points

• Nvwm LLC reduced its stake in Meta Platforms, Inc. by 6.9%, holding 11,828 shares valued at approximately $6.82 million.
• Meta reported $6.43 EPS for its last quarter, exceeding analyst expectations, with a revenue of $42.31 billion representing a 16.1% increase year-over-year.
• Several hedge funds have increased their positions in Meta, with institutional investors now owning 79.91% of the company's stock, indicating strong institutional interest.

Nvwm LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 11,828 shares of the social networking company's stock after selling 883 shares during the quarter. Meta Platforms accounts for approximately 1.8% of Nvwm LLC's portfolio, making the stock its 10th largest holding. Nvwm LLC's holdings in Meta Platforms were worth $6,817,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms during the first quarter valued at approximately $28,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $45,000. JCIC Asset Management Inc. boosted its stake in shares of Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares during the period. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $47,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

NASDAQ META traded down $23.43 during trading hours on Friday, reaching $750.01. The company's stock had a trading volume of 18,985,910 shares, compared to its average volume of 15,659,175. The firm's 50-day moving average price is $699.22 and its 200-day moving average price is $644.61. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $450.80 and a 1 year high of $784.75. The company has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.66 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. Meta Platforms had a return on equity of 40.31% and a net margin of 39.99%. The company had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. During the same period in the previous year, the firm earned $5.16 EPS. The firm's revenue was up 21.6% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed 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 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is 8.19%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $719.86, for a total transaction of $373,607.34. Following the sale, the insider owned 25,550 shares in the company, valued at approximately $18,392,423. This represents a 1.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 2,361 shares of the 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 disclosure for this sale can be found here. Insiders sold 152,980 shares of company stock valued at $105,708,832 over the last 90 days. Insiders own 13.61% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Pivotal Research increased their price objective on Meta Platforms from $830.00 to $930.00 and gave the company a "buy" rating in a research note on Thursday. Morgan Stanley raised their price target on Meta Platforms from $750.00 to $850.00 and gave the stock an "overweight" rating in a research note on Thursday. Benchmark raised their price target on Meta Platforms from $800.00 to $890.00 and gave the stock a "buy" rating in a research note on Thursday. KeyCorp raised their price target on Meta Platforms from $800.00 to $905.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Wedbush raised their price target on Meta Platforms from $750.00 to $920.00 and gave the stock an "outperform" rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, forty have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $815.09.

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.