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Private Wealth Partners LLC Sells 2,584 Shares of Meta Platforms, Inc. (NASDAQ:META)

Meta Platforms logo with Computer and Technology background

Private Wealth Partners LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,056 shares of the social networking company's stock after selling 2,584 shares during the quarter. Private Wealth Partners LLC's holdings in Meta Platforms were worth $4,643,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of META. Suvretta Capital Management LLC increased its holdings in shares of Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP grew its position in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after buying an additional 43,200 shares in the last quarter. Brueske Advisory Services LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $459,000. Kovitz Investment Group Partners LLC increased its stake in Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after acquiring an additional 1,229,350 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Meta Platforms by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock valued at $3,908,382,000 after acquiring an additional 110,040 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Meta Platforms Trading Up 2.5%

Shares of META stock traded up $17.41 during trading hours on Thursday, hitting $726.09. 13,940,515 shares of the company were exchanged, compared to its average volume of 14,508,862. The company has a 50 day simple moving average of $633.87 and a two-hundred day simple moving average of $625.73. The firm has a market cap of $1.83 trillion, a P/E ratio of 28.32, a P/E/G ratio of 1.74 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the company posted $4.71 earnings per share. The business's quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total transaction of $9,796,340.32. Following the transaction, the chief executive officer now directly owns 57,533 shares of the company's stock, valued at $40,862,237.92. This represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total transaction of $525,577.86. Following the completion of the sale, the insider now directly owns 30,261 shares of the company's stock, valued at approximately $17,268,742.26. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,831 shares of company stock valued at $83,868,872. 13.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

META has been the topic of several analyst reports. Guggenheim increased their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup raised their target price on shares of Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a report on Tuesday. JMP Securities reaffirmed a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. Finally, Jefferies Financial Group lowered their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $715.76.

Read Our Latest Analysis on META

Meta Platforms Profile

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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