Snider Financial Group Sells 1,330 Shares of Meta Platforms, Inc. (NASDAQ:META)

Snider Financial Group reduced its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,645 shares of the social networking company's stock after selling 1,330 shares during the period. Meta Platforms accounts for about 2.2% of Snider Financial Group's holdings, making the stock its 11th biggest position. Snider Financial Group's holdings in Meta Platforms were worth $6,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fjell Capital LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $1,836,000. Opulen Financial Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $325,000. Daner Wealth Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $334,000. Appleton Partners Inc. MA raised its stake in shares of Meta Platforms by 3.7% during the fourth quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock worth $15,406,000 after purchasing an additional 951 shares during the last quarter. Finally, Brighton Jones LLC raised its stake in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total transaction of $348,249.00. Following the transaction, the insider now directly owns 29,702 shares of the company's stock, valued at approximately $19,930,042. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer now directly owns 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,171 shares of company stock valued at $35,163,457. Corporate insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. TD Securities cut their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus upped their price target on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upped their price target on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Loop Capital increased their price objective on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $702.48.

Meta Platforms Stock Up 1.9%

META stock traded up $13.09 during midday trading on Friday, hitting $697.71. 11,707,462 shares of the company's stock were exchanged, compared to its average volume of 14,531,332. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The firm has a 50 day moving average price of $587.67 and a 200-day moving average price of $615.55. The stock has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

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, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion during 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 firm's quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts anticipate 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. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio is presently 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.