REDW Wealth LLC Has $406,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

REDW Wealth LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 38.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 705 shares of the social networking company's stock after selling 435 shares during the period. REDW Wealth LLC's holdings in Meta Platforms were worth $406,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Whelan Financial boosted its stake in Meta Platforms by 13.2% in the first quarter. Whelan Financial now owns 3,319 shares of the social networking company's stock valued at $1,913,000 after acquiring an additional 388 shares during the period. Novare Capital Management LLC boosted its stake in Meta Platforms by 8.5% in the first quarter. Novare Capital Management LLC now owns 19,486 shares of the social networking company's stock valued at $11,231,000 after acquiring an additional 1,533 shares during the period. Adell Harriman & Carpenter Inc. boosted its stake in Meta Platforms by 0.7% in the first quarter. Adell Harriman & Carpenter Inc. now owns 3,802 shares of the social networking company's stock valued at $2,192,000 after acquiring an additional 28 shares during the period. HM Payson & Co. boosted its stake in Meta Platforms by 3.5% in the first quarter. HM Payson & Co. now owns 180,830 shares of the social networking company's stock valued at $104,223,000 after acquiring an additional 6,174 shares during the period. Finally, Macroview Investment Management LLC boosted its stake in Meta Platforms by 6.0% in the first quarter. Macroview Investment Management LLC now owns 458 shares of the social networking company's stock valued at $264,000 after acquiring an additional 26 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on META. UBS Group restated a "buy" rating and issued a $812.00 target price (up from $683.00) on shares of Meta Platforms in a research note on Thursday, June 26th. Truist Financial boosted their price objective on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Benchmark reduced their price objective on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group boosted their price objective on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Jefferies Financial Group reduced their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $729.38.

Insider Activity

In other news, insider Jennifer Newstead sold 519 shares of the stock in a transaction 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 completion of the sale, the insider owned 27,107 shares in the company, valued at $19,559,597.99. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction 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. Insiders sold 153,792 shares of company stock worth $105,466,325 over the last quarter. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of NASDAQ META 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 company has a market cap of $1.80 trillion, a P/E ratio of 27.98, a PEG ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The business's 50-day moving average is $674.77 and its 200 day moving average is $634.35. 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 (NASDAQ:META - Get Free Report) last posted 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 return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 earnings per share. The firm's revenue was up 16.1% on a year-over-year basis. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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