Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lowered its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 19.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,946 shares of the social networking company's stock after selling 727 shares during the quarter. Park Place Capital Corp's holdings in Meta Platforms were worth $1,698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares during the last quarter. Capital World Investors raised its holdings in Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $19,949,512,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 1,462 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the sale, the chief executive officer now owns 139,538 shares of the company's stock, valued at $97,834,277.94. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total value of $525,577.86. Following the completion of the sale, the insider now directly owns 30,261 shares in the company, valued at approximately $17,268,742.26. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,223 shares of company stock valued at $83,526,550. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of META opened at $733.63 on Monday. 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 $442.65 and a 52-week high of $742.39. The company has a 50-day simple moving average of $638.51 and a 200-day simple moving average of $626.45. The company has a market capitalization of $1.84 trillion, a PE ratio of 28.61, a P/E/G ratio of 1.80 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its 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 firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $4.71 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms's dividend payout ratio is presently 8.19%.

Wall Street Analyst Weigh In

A number of research firms recently commented on META. KeyCorp increased their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Oppenheimer upped their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Susquehanna dropped their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Roth Capital boosted their target price on Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, JMP Securities reissued a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and an average price target of $719.52.

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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