United Advisor Group LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 40.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,517 shares of the social networking company's stock after selling 3,719 shares during the quarter. United Advisor Group LLC's holdings in Meta Platforms were worth $3,180,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in META. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth $47,000. Finally, Principia Wealth Advisory LLC grew its stake in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Buying and Selling at Meta Platforms
In other news, CEO Mark Zuckerberg sold 2,753 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $700.43, for a total value of $1,928,283.79. Following the completion of the sale, the chief executive officer now owns 85,619 shares of the company's stock, valued at $59,970,116.17. This represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,031 shares of company stock valued at $73,954,565. Company insiders own 13.61% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. Guggenheim boosted their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. The Goldman Sachs Group upped their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. 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 report on Thursday, May 1st. Finally, Roth Capital boosted their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One 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 issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $710.00.
View Our Latest Stock Analysis on META
Meta Platforms Trading Down 1.9%
Shares of META traded down $13.42 during mid-day trading on Friday, hitting $682.35. The company had a trading volume of 22,498,010 shares, compared to its average volume of 14,512,174. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The business's 50-day simple moving average is $618.10 and its 200-day simple moving average is $623.14. The stock has a market cap of $1.72 trillion, a PE ratio of 26.61, a P/E/G ratio of 1.68 and a beta of 1.26. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.
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 for the quarter, beating 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 company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the business earned $4.71 EPS. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is currently 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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