Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Tanager Wealth Management LLP

Tanager Wealth Management LLP lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,053 shares of the social networking company's stock after selling 1,540 shares during the period. Tanager Wealth Management LLP's holdings in Meta Platforms were worth $4,065,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Inlight Wealth Management LLC purchased a new stake in shares of Meta Platforms in the first quarter valued at about $25,000. Millstone Evans Group LLC purchased a new position in Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at approximately $45,000. Finally, JCIC Asset Management Inc. increased its position 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 worth $46,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Rosenblatt Securities lifted their price objective on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank Of Canada reiterated an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. Benchmark dropped their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Roth Capital lifted their price target on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One equities research 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 issued a strong buy rating to the company's stock. According to MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average price target of $719.52.

Meta Platforms Stock Performance

Meta Platforms stock opened at $733.63 on Monday. 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 12 month low of $442.65 and a 12 month high of $742.39. The company has a market cap of $1.84 trillion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. The stock's 50-day moving average is $638.51 and its 200-day moving average is $626.45.

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 (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm earned $4.71 earnings per share. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $570.66, for a total value of $525,577.86. Following the completion of the transaction, the insider now owns 30,261 shares of the company's stock, valued at approximately $17,268,742.26. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 124,223 shares of company stock valued at $83,526,550. Corporate insiders own 13.61% of the company's stock.

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.

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.