Nwam LLC Has $285,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Nwam LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 98.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 494 shares of the social networking company's stock after selling 26,035 shares during the period. Nwam LLC's holdings in Meta Platforms were worth $285,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms in the first quarter valued at about $28,000. Millstone Evans Group LLC bought a new position in Meta Platforms in the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the fourth quarter valued at about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the fourth quarter valued at about $45,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $2.12 during trading on Friday, reaching $712.68. 8,253,539 shares of the company traded hands, compared to its average volume of 10,556,341. The company's 50 day moving average is $692.48 and its two-hundred day moving average is $641.78. The firm has a market capitalization of $1.79 trillion, a PE ratio of 27.80, a PEG ratio of 1.71 and a beta of 1.28. 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 52 week low of $450.80 and a 52 week high of $747.90.

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 for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.71 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

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 dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer owned 1,183 shares of the company's stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction 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 transaction, the chief executive officer directly owned 118,279 shares of the company's stock, valued at $82,928,955.27. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,473 shares of company stock valued at $105,805,440. Corporate insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on META. The Goldman Sachs Group raised their price target on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Moffett Nathanson raised their price target on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wedbush raised their price target on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. TD Cowen raised their price target on Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $808.00 price target (up previously from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus target price of $752.33.

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.