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Professional Financial Advisors LLC Trims Position in Meta Platforms, Inc. (NASDAQ:META)

Meta Platforms logo with Computer and Technology background

Professional Financial Advisors LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,025 shares of the social networking company's stock after selling 358 shares during the quarter. Professional Financial Advisors LLC's holdings in Meta Platforms were worth $1,743,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Inlight Wealth Management LLC acquired a new stake in shares of Meta Platforms during the 1st quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Finally, Stuart Chaussee & Associates Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Performance

Meta Platforms stock traded up $7.54 during midday trading on Friday, reaching $733.63. The stock had a trading volume of 18,758,104 shares, compared to its average volume of 14,539,418. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm's 50-day moving average price is $638.51 and its 200 day moving average price is $626.45. The firm 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. 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 (NASDAQ:META - Get Free Report) last announced its quarterly earnings data 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. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the previous year, the business posted $4.71 EPS. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on META. The Goldman Sachs Group lifted 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. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Barclays reduced their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Roth Capital lifted their price target on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Pivotal Research reduced their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $719.52.

View Our Latest Research Report on Meta Platforms

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total transaction of $9,796,340.32. Following the completion of the transaction, the chief executive officer now owns 57,533 shares of the company's stock, valued at $40,862,237.92. The trade was a 19.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the transaction, the chief operating officer now directly owns 4,608 shares of the company's stock, valued at $2,265,707.52. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,831 shares of company stock worth $83,868,872. Company insiders own 13.61% of the company's stock.

Meta Platforms Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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