Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,977 shares of the social networking company's stock after selling 479 shares during the quarter. Meta Platforms accounts for about 0.7% of Revolve Wealth Partners LLC's holdings, making the stock its 26th biggest holding. Revolve Wealth Partners LLC's holdings in Meta Platforms were worth $5,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC raised its holdings 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 acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 475 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $298,418.75. Following the completion of the sale, the director now owns 10,272 shares of the company's stock, valued at approximately $6,453,384. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $595.00, for a total value of $547,995.00. Following the completion of the sale, the insider now directly owns 33,024 shares of the company's stock, valued at approximately $19,649,280. This trade represents a 2.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,171 shares of company stock worth $35,163,457 in the last three months. Insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

NASDAQ:META traded up $13.09 during midday trading on Friday, reaching $697.71. The stock had a trading volume of 11,707,462 shares, compared to its average volume of 14,531,332. The firm has a fifty day simple moving average of $587.67 and a two-hundred day simple moving average of $615.18. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.75 trillion, a P/E ratio of 29.17, a P/E/G ratio of 1.42 and a beta of 1.26.

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

Meta Platforms Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on META shares. 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. Guggenheim raised their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Moffett Nathanson raised their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Truist Financial raised their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Morgan Stanley raised their target price on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $702.48.

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.