MRA Advisory Group Decreases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

MRA Advisory Group decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,209 shares of the social networking company's stock after selling 659 shares during the quarter. Meta Platforms comprises about 1.6% of MRA Advisory Group's holdings, making the stock its 16th largest position. MRA Advisory Group's holdings in Meta Platforms were worth $3,002,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in META. Millstone Evans Group LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Conquis Financial LLC acquired a new stake in Meta Platforms during the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Activity

In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. The trade was a 23.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $609.00, for a total value of $370,272.00. Following the sale, the chief operating officer now owns 8,054 shares of the company's stock, valued at approximately $4,904,886. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,171 shares of company stock worth $35,163,457 in the last three months. 13.61% of the stock is owned by insiders.

Meta Platforms Trading Down 0.5%

Shares of NASDAQ META opened at $684.62 on Friday. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a market capitalization of $1.72 trillion, a PE ratio of 28.62, a PEG ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $585.44 and a two-hundred day moving average price of $613.90.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm 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 EPS. The business's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio is 8.19%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on META shares. Bank of America upped their price target on Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Rosenblatt Securities increased their target price on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Morgan Stanley raised their price objective on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Evercore ISI raised their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, Oppenheimer increased their target price on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $702.48.

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.

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