Oxinas Partners Wealth Management LLC Sells 701 Shares of Meta Platforms, Inc. (NASDAQ:META)

Oxinas Partners Wealth Management LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,972 shares of the social networking company's stock after selling 701 shares during the quarter. Oxinas Partners Wealth Management LLC's holdings in Meta Platforms were worth $1,137,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Meta Platforms in the 4th quarter worth about $19,949,512,000. GAMMA Investing LLC lifted its holdings in shares of Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter worth approximately $2,243,603,000. Finally, Northern Trust Corp increased its position in Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total transaction of $348,249.00. Following the transaction, the insider now owns 29,702 shares in the company, valued at approximately $19,930,042. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now owns 5,622 shares of the company's stock, valued at $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,171 shares of company stock valued at $35,163,457. 13.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

META has been the topic of a number of recent research reports. DA Davidson cut their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. Evercore ISI boosted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Guggenheim raised their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $702.48.

Meta Platforms Trading Up 1.9%

Shares of NASDAQ:META traded up $13.09 during trading hours on Friday, hitting $697.71. 11,707,462 shares of the company's stock traded hands, compared to its average volume of 14,510,579. The firm has a market capitalization of $1.75 trillion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The business has a fifty day moving average price of $585.44 and a 200-day moving average price of $613.90. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the company posted $4.71 EPS. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's dividend payout ratio is currently 8.19%.

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.