Objective Capital Management LLC Trims Stake in Meta Platforms, Inc. (NASDAQ:META)

Objective Capital Management LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,883 shares of the social networking company's stock after selling 487 shares during the quarter. Objective Capital Management LLC's holdings in Meta Platforms were worth $1,103,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the 4th quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms during the 4th quarter valued at approximately $47,000. Finally, Conquis Financial LLC acquired a new position in Meta Platforms during the 4th quarter valued at approximately $59,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $673.96, for a total value of $409,767.68. Following the completion of the transaction, the chief operating officer now owns 8,662 shares of the company's stock, valued at approximately $5,837,841.52. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,628 shares of company stock worth $34,826,386. 13.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

META has been the topic of several recent research reports. Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Raymond James dropped their price target on 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. Guggenheim upped their price target on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Mizuho upped their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company decreased their target price on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company 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 issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $701.05.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $1.47 on Thursday, reaching $645.05. The company's stock had a trading volume of 8,853,767 shares, compared to its average volume of 14,469,198. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a market cap of $1.62 trillion, a P/E ratio of 26.97, a PEG ratio of 1.42 and a beta of 1.24. The company has a 50-day simple moving average of $577.74 and a 200 day simple moving average of $610.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last issued 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. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business's revenue was up 16.1% on a year-over-year basis. During the same period last year, the company posted $4.71 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.33%. Meta Platforms's dividend payout ratio is currently 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.