Strategic Investment Solutions Inc. IL Cuts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Strategic Investment Solutions Inc. IL lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 26.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,092 shares of the social networking company's stock after selling 401 shares during the period. Strategic Investment Solutions Inc. IL's holdings in Meta Platforms were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Inlight Wealth Management LLC acquired a new stake in Meta Platforms during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Meta Platforms during the 1st quarter valued at $33,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the 4th quarter valued at $45,000. Finally, JCIC Asset Management Inc. grew its holdings in Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of META opened at $761.83 on Friday. The firm's 50 day moving average is $711.99 and its 200-day moving average is $649.96. The stock has a market capitalization of $1.92 trillion, a P/E ratio of 27.58, a P/E/G ratio of 1.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping the consensus estimate of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm's quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the firm posted $5.16 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 7.60%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on META. Roth Capital raised their price target on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Oppenheimer raised their price objective on shares of Meta Platforms from $775.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Bank of America raised their price objective on shares of Meta Platforms from $775.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Wedbush raised their price objective on shares of Meta Platforms from $750.00 to $920.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Monness Crespi & Hardt raised their price objective on shares of Meta Platforms from $780.00 to $860.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $822.41.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction that occurred 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 directly owned 1,183 shares of the company's stock, valued at $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $753.43, for a total transaction of $11,939,605.21. The disclosure for this sale can be found here. Insiders have sold a total of 260,024 shares of company stock valued at $188,466,159 over the last ninety days. Corporate insiders own 13.61% of the company's stock.

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.

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