TTP Investments Inc. Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

TTP Investments Inc. cut its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,386 shares of the social networking company's stock after selling 818 shares during the quarter. Meta Platforms makes up about 4.5% of TTP Investments Inc.'s holdings, making the stock its 7th biggest holding. TTP Investments Inc.'s holdings in Meta Platforms were worth $10,597,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Millstone Evans Group LLC bought a new stake in Meta Platforms in the fourth quarter worth $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms during the 4th quarter valued at about $45,000. Stuart Chaussee & Associates Inc. bought a new stake in Meta Platforms during the 4th quarter valued at about $47,000. Finally, Principia Wealth Advisory LLC increased its stake in Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after purchasing an additional 30 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of META stock traded down $13.42 on Friday, hitting $682.35. 22,498,010 shares of the stock traded hands, compared to its average volume of 14,512,174. The firm has a 50 day simple moving average of $618.10 and a two-hundred day simple moving average of $623.14. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The firm has a market cap of $1.72 trillion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.68 and a beta of 1.26. 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 (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 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 firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the firm earned $4.71 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Insider Activity

In related news, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $701.99, for a total transaction of $364,332.81. Following the transaction, the insider now directly owns 28,664 shares in the company, valued at approximately $20,121,841.36. This represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 8,312 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $702.13, for a total value of $5,836,104.56. Following the transaction, the chief executive officer now directly owns 88,372 shares in the company, valued at approximately $62,048,632.36. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,031 shares of company stock worth $73,954,565. 13.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Loop Capital upped their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Wells Fargo & Company reissued an "overweight" rating and issued a $664.00 target price on shares of Meta Platforms in a report on Tuesday. Piper Sandler increased their price objective on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Susquehanna reduced their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $710.00.

About Meta Platforms

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.