Yahav Achim Ve Achayot Provident Funds Management Co Ltd. Sells 1,756 Shares of Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Yahav Achim Ve Achayot Provident Funds Management Co Ltd. reduced its stake in Meta Platforms, Inc. by 49.9% in the first quarter, selling 1,756 shares to hold a total of 1,764 shares worth approximately $1,016,000.
• Analysts have raised their price targets for Meta Platforms, with KeyCorp increasing theirs from $800.00 to $905.00, reflecting a strong consensus of 39 buy ratings and an average target of $822.41.
• Meta Platforms recently reported earnings that exceeded analysts' expectations, with an earnings per share (EPS) of $7.14 for the quarter, leading to a 21.6% year-over-year revenue growth.

Yahav Achim Ve Achayot Provident Funds Management Co Ltd. lowered its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 49.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,764 shares of the social networking company's stock after selling 1,756 shares during the quarter. Meta Platforms comprises about 4.1% of Yahav Achim Ve Achayot Provident Funds Management Co Ltd.'s portfolio, making the stock its 10th biggest holding. Yahav Achim Ve Achayot Provident Funds Management Co Ltd.'s holdings in Meta Platforms were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Inlight Wealth Management LLC purchased a new stake in Meta Platforms during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms during the first quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Meta Platforms during the first quarter worth about $33,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms during the fourth quarter worth about $45,000. Finally, JCIC Asset Management Inc. grew its position in shares of Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $9.92 during trading hours on Wednesday, hitting $780.08. 8,791,198 shares of the company were exchanged, compared to its average volume of 15,392,969. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $795.46. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $718.89 and a 200-day moving average of $653.09. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.59 and a beta of 1.27.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. Meta Platforms's revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.16 earnings per share. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm 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. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's dividend payout ratio is presently 7.60%.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer owned 1,183 shares of the company's stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 15,847 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 289,356 shares of company stock worth $211,138,344. 13.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on META. The Goldman Sachs Group boosted their price objective on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. HSBC raised Meta Platforms from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $610.00 to $900.00 in a research report on Thursday, July 31st. Royal Bank Of Canada boosted their price objective on Meta Platforms from $740.00 to $840.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. TD Securities lowered their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Scotiabank boosted their price objective on Meta Platforms from $675.00 to $685.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $822.41.

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.