Strategic Investment Advisors MI Sells 712 Shares of Meta Platforms, Inc. (NASDAQ:META)

Strategic Investment Advisors MI decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,699 shares of the social networking company's stock after selling 712 shares during the quarter. Strategic Investment Advisors MI's holdings in Meta Platforms were worth $7,895,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of META. Fjell Capital LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $1,836,000. Opulen Financial Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $325,000. Daner Wealth Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $334,000. Brighton Jones LLC lifted its holdings 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 valued at $20,230,000 after purchasing an additional 570 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $112,406,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Up 1.0%

Shares of NASDAQ META traded up $7.54 during mid-day trading on Friday, reaching $733.63. 18,758,104 shares of the company traded hands, compared to its average volume of 14,539,418. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market cap of $1.84 trillion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. The company's fifty day moving average is $638.51 and its two-hundred day moving average is $626.48. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms's payout ratio is 8.19%.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $563.03, for a total transaction of $342,322.24. Following the completion of the sale, the chief operating officer now owns 6,230 shares in the company, valued at $3,507,676.90. This represents a 8.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 1,462 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the sale, the chief executive officer now owns 139,538 shares of the company's stock, valued at approximately $97,834,277.94. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,831 shares of company stock worth $83,868,872 in the last 90 days. 13.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on META. Moffett Nathanson upped their target price on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Barclays reduced their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald increased their price objective on Meta Platforms from $676.00 to $807.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 18th. Guggenheim increased their price objective on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Pivotal Research reduced their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $719.52.

Meta Platforms 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.