Strategic Advisors LLC Reduces Stake in Meta Platforms, Inc. (NASDAQ:META)

Strategic Advisors LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,179 shares of the social networking company's stock after selling 546 shares during the period. Meta Platforms comprises 1.7% of Strategic Advisors LLC's investment portfolio, making the stock its 14th biggest position. Strategic Advisors LLC's holdings in Meta Platforms were worth $8,749,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in Meta Platforms in the 4th quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms during the 4th quarter valued at $47,000. Finally, Principia Wealth Advisory LLC grew its holdings in Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after buying an additional 30 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $614.97, for a total value of $373,901.76. Following the sale, the chief operating officer now directly owns 6,838 shares in the company, valued at approximately $4,205,164.86. The trade was a 8.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,512 shares of company stock valued at $73,590,232. 13.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on META shares. Monness Crespi & Hardt increased their target price on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and set a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Evercore ISI increased their target price on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. Finally, Rosenblatt Securities increased their target price on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $710.00.

Meta Platforms Trading Down 0.2%

NASDAQ:META opened at $695.77 on Thursday. The business's 50-day moving average is $612.33 and its two-hundred day moving average is $621.89. 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 12 month low of $442.65 and a 12 month high of $740.91. The firm has a market capitalization of $1.75 trillion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26.

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 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 analyst estimates of $41.45 billion. During the same period last year, the company posted $4.71 earnings per share. The firm's revenue was up 16.1% compared to the same quarter last year. 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 will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given 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 of this dividend is Monday, June 16th. Meta Platforms's payout ratio is 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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