OneDigital Investment Advisors LLC Cuts Stake in Meta Platforms, Inc. (NASDAQ:META)

OneDigital Investment Advisors LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,396 shares of the social networking company's stock after selling 760 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Meta Platforms were worth $19,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Inlight Wealth Management LLC purchased a new position in shares of Meta Platforms in the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms in the 1st quarter worth about $28,000. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms in the 4th quarter worth about $45,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer owned 70,040 shares of the company's stock, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction on 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 completion of the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,792 shares of company stock valued at $105,466,325 in the last quarter. Insiders own 13.61% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on META shares. Cantor Fitzgerald boosted their price target on shares of Meta Platforms from $676.00 to $807.00 and gave the stock an "overweight" rating in a report on Wednesday, June 18th. Guggenheim boosted their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. TD Cowen boosted their price objective on Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Wednesday. Jefferies Financial Group dropped their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Loop Capital upped their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $727.95.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $5.54 during trading on Thursday, reaching $727.24. The company had a trading volume of 9,905,148 shares, compared to its average volume of 14,503,230. The company has a fifty day moving average of $672.36 and a two-hundred day moving average of $633.41. The stock has a market capitalization of $1.83 trillion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 1.80 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results 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 firm 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 business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.71 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Meta Platforms 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.