Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,576 shares of the social networking company's stock after selling 911 shares during the period. Meta Platforms comprises 3.1% of Tandem Capital Management Corp ADV's holdings, making the stock its 6th largest holding. Tandem Capital Management Corp ADV's holdings in Meta Platforms were worth $5,519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in META. Fjell Capital LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $1,836,000. Opulen Financial Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $325,000. Daner Wealth Management LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $334,000. Brighton Jones LLC boosted its position in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after acquiring an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $112,406,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on META shares. Raymond James Financial reduced their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. Barclays reduced their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus increased their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Wedbush boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $712.69.

Meta Platforms Trading Up 2.0%

Shares of META stock traded up $13.67 during mid-day trading on Tuesday, hitting $712.20. The company's stock had a trading volume of 13,806,658 shares, compared to its average volume of 14,499,652. The company's fifty day simple moving average is $625.25 and its 200-day simple moving average is $624.38. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market cap of $1.79 trillion, a PE ratio of 27.78, a P/E/G ratio of 1.72 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results 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 return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the company posted $4.71 EPS. The firm's revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 8,312 shares of Meta Platforms stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $702.13, for a total transaction of $5,836,104.56. Following the completion of the transaction, the chief executive officer now owns 88,372 shares in the company, valued at approximately $62,048,632.36. The trade was a 8.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $563.03, for a total value of $342,322.24. Following the transaction, the chief operating officer now owns 6,230 shares of the company's stock, valued at $3,507,676.90. This trade represents a 8.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,002 shares of company stock valued at $73,353,340 in the last three months. Corporate 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.