PSI Advisors LLC Has $806,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

PSI Advisors LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 35.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,398 shares of the social networking company's stock after selling 782 shares during the quarter. PSI Advisors LLC's holdings in Meta Platforms were worth $806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Millstone Evans Group LLC acquired a new position in Meta Platforms in the fourth quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the fourth quarter valued at $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms in the fourth quarter valued at $47,000. Finally, Principia Wealth Advisory LLC increased its stake in Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after purchasing an additional 30 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on META. Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. KeyCorp lifted their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Raymond James Financial dropped their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities lifted their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $710.00.

Insider Buying and Selling

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $614.97, for a total value of $373,901.76. Following the sale, the chief operating officer now directly owns 6,838 shares in the company, valued at $4,205,164.86. This trade represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the sale, the insider now owns 31,182 shares in the company, valued at $19,552,673.10. This represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,031 shares of company stock worth $73,954,565 in the last 90 days. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

META stock traded down $13.42 on Friday, reaching $682.35. 22,498,010 shares of the company were exchanged, compared to its average volume of 14,546,632. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock's fifty day moving average price is $618.10 and its 200 day moving average price is $623.08. The firm has a market capitalization of $1.72 trillion, a PE ratio of 26.61, a PEG ratio of 1.71 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the firm posted $4.71 EPS. The business's revenue for the quarter was up 16.1% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given 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 0.31%. Meta Platforms's dividend payout ratio (DPR) is 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.