Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Allworth Financial LP

Allworth Financial LP cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,250 shares of the social networking company's stock after selling 1,016 shares during the period. Allworth Financial LP's holdings in Meta Platforms were worth $25,724,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Stonebrook Private Inc. boosted its holdings in Meta Platforms by 6.1% in the 1st quarter. Stonebrook Private Inc. now owns 5,602 shares of the social networking company's stock worth $3,229,000 after buying an additional 323 shares during the last quarter. Adapt Wealth Advisors LLC boosted its holdings in Meta Platforms by 7.0% in the 1st quarter. Adapt Wealth Advisors LLC now owns 549 shares of the social networking company's stock worth $316,000 after buying an additional 36 shares during the last quarter. CFO4Life Group LLC boosted its holdings in Meta Platforms by 3.2% in the 1st quarter. CFO4Life Group LLC now owns 7,562 shares of the social networking company's stock worth $4,358,000 after buying an additional 237 shares during the last quarter. MainStreet Investment Advisors LLC boosted its holdings in Meta Platforms by 2.1% in the 1st quarter. MainStreet Investment Advisors LLC now owns 9,240 shares of the social networking company's stock worth $5,326,000 after buying an additional 192 shares during the last quarter. Finally, Significant Wealth Partners LLC acquired a new stake in Meta Platforms in the 1st quarter worth about $300,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 517 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $717.50, for a total value of $370,947.50. Following the sale, the chief operating officer directly owned 6,819 shares in the company, valued at $4,892,632.50. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The disclosure for this sale can be found here. Insiders have sold 153,764 shares of company stock valued at $105,721,208 over the last three months. Company insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on META shares. Piper Sandler reiterated an "overweight" rating and issued a $808.00 price objective (up from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Benchmark decreased their target price on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research note on Thursday, July 3rd. Guggenheim raised their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Raymond James Financial decreased their target price on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $736.05.

Meta Platforms Price Performance

Meta Platforms stock traded down $2.14 during mid-day trading on Friday, reaching $699.27. The company had a trading volume of 7,718,877 shares, compared to its average volume of 14,340,713. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market capitalization of $1.76 trillion, a P/E ratio of 27.26, a P/E/G ratio of 1.72 and a beta of 1.28. The stock's 50-day simple moving average is $683.85 and its 200-day simple moving average is $637.15.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.71 earnings per share. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders 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 dividend yield of 0.30%. Meta Platforms's dividend payout ratio is presently 8.19%.

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.