Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,900 shares of the social networking company's stock after selling 1,100 shares during the quarter. Meta Platforms makes up approximately 2.2% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's investment portfolio, making the stock its 16th largest position. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's holdings in Meta Platforms were worth $13,198,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Inlight Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at $28,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at $45,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on META shares. Morgan Stanley upped their target price on Meta Platforms from $650.00 to $750.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Canaccord Genuity Group upped their price target on Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Barclays decreased their price target on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on Meta Platforms from $735.00 to $795.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, The Goldman Sachs Group upped their price target on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $752.33.

Meta Platforms Trading Down 0.3%

NASDAQ:META traded down $2.12 during mid-day trading on Friday, reaching $712.68. The company's stock had a trading volume of 8,253,539 shares, compared to its average volume of 10,556,341. The company's fifty day simple moving average is $692.48 and its two-hundred day simple moving average is $641.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a twelve month low of $450.80 and a twelve month high of $747.90. The stock has a market cap of $1.79 trillion, a P/E ratio of 27.80, a P/E/G ratio of 1.71 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the company earned $4.71 EPS. The firm's quarterly revenue was up 16.1% on a year-over-year basis. 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. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the sale, the director owned 9,342 shares of the company's stock, valued at $6,755,013.36. This represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,473 shares of company stock valued at $105,805,440 in the last quarter. 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.