Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Panoramic Capital Partners LLC

Panoramic Capital Partners LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 32.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,043 shares of the social networking company's stock after selling 496 shares during the period. Meta Platforms accounts for 0.6% of Panoramic Capital Partners LLC's portfolio, making the stock its 18th largest holding. Panoramic Capital Partners LLC's holdings in Meta Platforms were worth $601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of META. Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter worth $19,949,512,000. GAMMA Investing LLC lifted its position in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after acquiring an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after acquiring an additional 6,240,810 shares during the period. Raymond James Financial Inc. bought a new stake in Meta Platforms during the 4th quarter valued at approximately $2,243,603,000. Finally, Northern Trust Corp boosted its position in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after acquiring an additional 2,787,832 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 6,874 shares of the company's 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 sale, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 1,462 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the transaction, the chief executive officer now directly owns 139,538 shares of the company's stock, valued at approximately $97,834,277.94. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,104 shares of company stock worth $35,270,242. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

NASDAQ:META traded down $1.64 during trading hours on Wednesday, hitting $700.76. 2,672,068 shares of the company were exchanged, compared to its average volume of 14,477,489. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The stock has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 29.40, a PEG ratio of 1.42 and a beta of 1.26. The company's 50 day moving average price is $593.29 and its 200-day moving average price is $617.09.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm posted $4.71 earnings per share. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms's payout ratio is presently 8.19%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research note 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 report on Thursday, May 1st. Susquehanna reduced their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Evercore ISI increased their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Scotiabank reduced their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.