Reyes Financial Architecture Inc. Decreases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Reyes Financial Architecture Inc. cut its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 57.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,347 shares of the social networking company's stock after selling 1,783 shares during the quarter. Meta Platforms comprises 0.6% of Reyes Financial Architecture Inc.'s holdings, making the stock its 22nd biggest position. Reyes Financial Architecture Inc.'s holdings in Meta Platforms were worth $776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $19,949,512,000. GAMMA Investing LLC boosted its stake in shares of Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $2,243,603,000. Northern Trust Corp lifted its position in shares of Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after acquiring an additional 2,787,832 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Meta Platforms by 712.2% during the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock worth $1,462,589,000 after buying an additional 2,225,186 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer directly owned 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the sale, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,764 shares of company stock valued at $105,721,208. 13.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. UBS Group reiterated a "buy" rating and issued a $812.00 price target (up previously from $683.00) on shares of Meta Platforms in a report on Thursday, June 26th. Citigroup restated a "buy" rating on shares of Meta Platforms in a research note on Tuesday. Finally, Wedbush raised their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $736.05.

Meta Platforms Stock Performance

Shares of META opened at $701.41 on Friday. 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, Inc. has a one year low of $442.65 and a one year high of $747.90. The stock has a 50-day moving average of $683.85 and a 200-day moving average of $637.15. The company has a market cap of $1.76 trillion, a PE ratio of 27.36, a P/E/G ratio of 1.72 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 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 business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the firm earned $4.71 earnings per share. The company's revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts predict 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 was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.

About Meta Platforms

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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