Tributary Capital Management LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,435 shares of the social networking company's stock after selling 370 shares during the quarter. Tributary Capital Management LLC's holdings in Meta Platforms were worth $1,403,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Inlight Wealth Management LLC acquired a new position in Meta Platforms in the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Meta Platforms in the first quarter valued at approximately $28,000. Millstone Evans Group LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the fourth quarter valued at approximately $45,000. Institutional investors own 79.91% of the company's stock.
Insider Transactions at Meta Platforms
In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares of the company's stock, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,437 shares of company stock worth $105,068,570. Insiders own 13.61% of the company's stock.
Analysts Set New Price Targets
META has been the topic of several research reports. Moffett Nathanson boosted their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. KeyCorp lifted their price target on shares of Meta Platforms from $655.00 to $800.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Barclays lowered their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Truist Financial lifted their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Pivotal Research lowered their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $738.37.
Read Our Latest Report on Meta Platforms
Meta Platforms Stock Performance
Shares of NASDAQ META opened at $712.97 on Tuesday. The company has a current ratio of 2.66, a quick ratio of 2.66 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 $747.90. The company has a 50 day simple moving average of $686.09 and a two-hundred day simple moving average of $638.61. The stock has a market cap of $1.79 trillion, a price-to-earnings ratio of 27.81, a PEG ratio of 1.72 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last released its 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 net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, analysts predict 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. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
About Meta Platforms
(
Free Report)
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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