Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,599 shares of the social networking company's stock after selling 2,129 shares during the quarter. Sigma Investment Counselors Inc.'s holdings in Meta Platforms were worth $11,872,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Inlight Wealth Management LLC acquired a new stake in Meta Platforms during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the first quarter valued at approximately $28,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the fourth quarter valued at approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on META. Truist Financial upped their price objective on Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Oppenheimer upped their price objective on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. TD Securities dropped their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. UBS Group reiterated a "buy" rating and set a $812.00 price target (up from $683.00) on shares of Meta Platforms in a research report on Thursday, June 26th. Finally, Moffett Nathanson increased their price target on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $729.38.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $717.51 on Friday. The stock has a fifty day moving average price of $674.77 and a two-hundred day moving average price of $634.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market cap of $1.80 trillion, a P/E ratio of 27.98, a PEG ratio of 1.78 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $4.71 EPS. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 517 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $717.51, for a total transaction of $370,952.67. Following the completion of the sale, the chief operating officer directly owned 7,336 shares of the company's stock, valued at $5,263,653.36. This trade represents a 6.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The disclosure for this sale can be found here. Insiders sold a total of 153,792 shares of company stock valued at $105,466,325 in the last three months. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms 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.

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