Raleigh Capital Management Inc. Has $1.74 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Raleigh Capital Management Inc. reduced its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 22.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,012 shares of the social networking company's stock after selling 893 shares during the quarter. Raleigh Capital Management Inc.'s holdings in Meta Platforms were worth $1,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new position in Meta Platforms in the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Meta Platforms in the first quarter worth about $28,000. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms during the 4th quarter valued at approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on META. Wedbush raised their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Rosenblatt Securities upped their price target on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Jefferies Financial Group decreased their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a report on Monday, April 7th. DA Davidson cut their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Barclays decreased their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $729.38.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction dated 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 owned 118,279 shares of the company's stock, valued at approximately $82,928,955.27. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,792 shares of company stock valued at $105,466,325. Company insiders own 13.61% of the company's stock.

Meta Platforms Trading Down 1.3%

NASDAQ:META traded down $9.73 on Friday, hitting $717.51. 10,855,962 shares of the stock were exchanged, compared to its average volume of 10,898,584. The company's 50-day moving average price is $672.36 and its 200 day moving average price is $633.41. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The stock has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 28.36, a P/E/G ratio of 1.78 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.

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, topping 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 during the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the previous year, the firm earned $4.71 earnings per share. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given 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 is 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.