Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,277,695 shares of the social networking company's stock after selling 12,979 shares during the period. Meta Platforms accounts for approximately 2.5% of Robeco Institutional Asset Management B.V.'s investment portfolio, making the stock its 5th biggest holding. Robeco Institutional Asset Management B.V. owned about 0.09% of Meta Platforms worth $1,312,772,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Inlight Wealth Management LLC acquired a new position in Meta Platforms during the 1st quarter valued at about $25,000. Millstone Evans Group LLC acquired a new position in Meta Platforms during the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the 4th quarter valued at about $45,000. Finally, JCIC Asset Management Inc. boosted its stake in Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Guggenheim lifted their price target on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Roth Capital lifted their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Loop Capital lifted their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Jefferies Financial Group dropped their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $719.52.

Meta Platforms Trading Up 1.0%

Shares of META stock opened at $733.63 on Friday. The company's fifty day simple moving average is $638.51 and its two-hundred day simple moving average is $626.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.81 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the previous year, the firm posted $4.71 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders 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 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's payout ratio is 8.19%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were 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 directly owns 57,533 shares in the company, valued at $40,862,237.92. The trade was a 19.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $704.89, for a total transaction of $365,837.91. Following the transaction, the insider now owns 28,145 shares of the company's stock, valued at $19,839,129.05. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,831 shares of company stock worth $83,868,872 in the last three months. Corporate insiders own 13.61% of the company's stock.

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.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.