Quattro Financial Advisors LLC Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Quattro Financial Advisors LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,532 shares of the social networking company's stock after selling 2,968 shares during the period. Quattro Financial Advisors LLC's holdings in Meta Platforms were worth $2,612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of META. Opulen Financial Group LLC acquired a new position in Meta Platforms during the 4th quarter worth $325,000. Brighton Jones LLC boosted its stake in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after buying an additional 875 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in shares of Meta Platforms by 5.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock worth $1,989,000 after buying an additional 178 shares during the period. Finally, Bank Pictet & Cie Europe AG increased its stake in shares of Meta Platforms by 3.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after buying an additional 7,587 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total value of $374,494.83. Following the sale, the insider owned 27,107 shares of the company's stock, valued at approximately $19,559,597.99. The trade was a 1.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,792 shares of company stock valued at $105,466,325. 13.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on META. Jefferies Financial Group cut their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. TD Securities cut their target price on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. KeyCorp upped their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Citigroup lifted their price target on Meta Platforms from $690.00 to $803.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. lifted their price target on Meta Platforms from $735.00 to $795.00 and gave the stock an "overweight" rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $729.38.

Meta Platforms Stock Performance

META stock traded down $9.73 during trading on Friday, hitting $717.51. The company had a trading volume of 10,855,962 shares, compared to its average volume of 14,460,014. The firm has a market cap of $1.80 trillion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The firm has a 50-day moving average price of $674.77 and a 200-day moving average price of $634.35. The company has a quick ratio of 2.66, a current 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 EPS. On average, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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