Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Miller Financial Services LLC

Miller Financial Services LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 61.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,268 shares of the social networking company's stock after selling 2,041 shares during the quarter. Meta Platforms comprises about 1.1% of Miller Financial Services LLC's investment portfolio, making the stock its 29th biggest position. Miller Financial Services LLC's holdings in Meta Platforms were worth $731,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after buying an additional 875 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Meta Platforms by 3.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after buying an additional 7,587 shares during the period. Highview Capital Management LLC DE lifted its holdings in Meta Platforms by 3.7% during the fourth quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock worth $3,624,000 after buying an additional 218 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Meta Platforms during the fourth quarter worth $2,243,603,000. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,865 shares of company stock worth $105,467,671 over the last ninety days. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $4.18 on Monday, reaching $716.86. The company's stock had a trading volume of 3,710,559 shares, compared to its average volume of 15,368,374. The stock's 50-day moving average is $692.48 and its two-hundred day moving average is $642.00. Meta Platforms, Inc. has a 52-week low of $450.80 and a 52-week 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 stock has a market capitalization of $1.80 trillion, a P/E ratio of 27.93, a PEG ratio of 1.71 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last announced 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 net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the prior year, the company earned $4.71 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on META shares. Needham & Company LLC upgraded Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday, July 3rd. KeyCorp upped their target price on Meta Platforms from $655.00 to $800.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. DA Davidson decreased their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. TD Securities decreased their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Loop Capital increased their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $752.33.

About Meta Platforms

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.