Winthrop Advisory Group LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,349 shares of the social networking company's stock after selling 751 shares during the period. Meta Platforms makes up about 0.4% of Winthrop Advisory Group LLC's investment portfolio, making the stock its 29th largest holding. Winthrop Advisory Group LLC's holdings in Meta Platforms were worth $3,659,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in META. Millstone Evans Group LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms during the fourth quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. bought a new stake in Meta Platforms during the fourth quarter worth approximately $47,000. Finally, Conquis Financial LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $635.41, for a total transaction of $329,777.79. Following the sale, the insider now directly owns 30,221 shares of the company's stock, valued at approximately $19,202,725.61. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $609.00, for a total transaction of $370,272.00. Following the sale, the chief operating officer now directly owns 8,054 shares in the company, valued at $4,904,886. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,135 shares of company stock valued at $34,481,779 over the last quarter. Corporate insiders own 13.61% of the company's stock.
Meta Platforms Stock Performance
Shares of META traded up $0.92 during trading hours on Tuesday, reaching $671.82. 6,042,210 shares of the company traded hands, compared to its average volume of 16,778,281. The stock's fifty day moving average is $579.76 and its 200 day moving average is $612.10. The stock has a market cap of $1.69 trillion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.
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, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 earnings per share. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. DA Davidson dropped their price target on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Scotiabank dropped their price target on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Guggenheim upped their price target on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Tigress Financial reissued a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $610.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $701.05.
Get Our Latest Analysis on META
About Meta Platforms
(
Free Report)
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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