Global Trust Asset Management LLC Has $723,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Global Trust Asset Management LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 55.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,254 shares of the social networking company's stock after selling 1,577 shares during the period. Global Trust Asset Management LLC's holdings in Meta Platforms were worth $723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valley Financial Group Inc. increased its position in Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after buying an additional 14 shares during the last quarter. Meredith Wealth Planning boosted its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after buying an additional 15 shares during the period. Maiden Cove Capital LLC grew its stake in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after buying an additional 15 shares during the last quarter. Finally, Riverwater Partners LLC raised its holdings in Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on META. Morgan Stanley raised their price target on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Evercore ISI lifted their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company reiterated an "overweight" rating and set a $664.00 price target on shares of Meta Platforms in a report on Tuesday. Bank of America raised their price objective on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Piper Sandler upped their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and an average target price of $710.00.

Meta Platforms Price Performance

META traded down $1.46 during trading on Thursday, hitting $695.77. The company's stock had a trading volume of 9,635,650 shares, compared to its average volume of 14,501,973. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. The firm's 50 day moving average price is $612.33 and its two-hundred day moving average price is $621.89. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

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

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now directly owns 5,622 shares of the company's stock, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the business'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 now owns 1,183 shares of the company's stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,512 shares of company stock valued at $73,590,232. Insiders own 13.61% of the company's stock.

Meta Platforms Company 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.