Vivid Wealth Management LLC Has $2.18 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Vivid Wealth Management LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,784 shares of the social networking company's stock after selling 746 shares during the period. Vivid Wealth Management LLC's holdings in Meta Platforms were worth $2,181,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of META. Vista Investment Partners LLC lifted its stake in shares of Meta Platforms by 19.7% in the first quarter. Vista Investment Partners LLC now owns 1,058 shares of the social networking company's stock worth $610,000 after acquiring an additional 174 shares in the last quarter. AA Financial Advisors LLC grew its stake in Meta Platforms by 24.7% during the 1st quarter. AA Financial Advisors LLC now owns 2,567 shares of the social networking company's stock valued at $1,480,000 after purchasing an additional 508 shares in the last quarter. WD Rutherford LLC raised its position in shares of Meta Platforms by 12.7% in the 1st quarter. WD Rutherford LLC now owns 6,156 shares of the social networking company's stock valued at $3,548,000 after purchasing an additional 696 shares in the last quarter. Inscription Capital LLC purchased a new position in shares of Meta Platforms during the 1st quarter valued at approximately $3,235,000. Finally, JLB & Associates Inc. boosted its stake in shares of Meta Platforms by 83.8% during the 1st quarter. JLB & Associates Inc. now owns 3,721 shares of the social networking company's stock valued at $2,145,000 after buying an additional 1,697 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on META shares. UBS Group upped their price target on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Jefferies Financial Group dropped their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Evercore ISI increased their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $664.00 price objective on shares of Meta Platforms in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $710.00.

Meta Platforms Price Performance

NASDAQ:META traded down $1.46 during mid-day trading on Thursday, reaching $695.77. 9,635,650 shares of the stock were exchanged, compared to its average volume of 14,501,973. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $612.33 and a 200 day moving average price of $621.89. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The firm has a market capitalization of $1.75 trillion, a PE ratio of 27.14, a PEG ratio of 1.71 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the firm posted $4.71 EPS. The business's revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 2,753 shares of Meta Platforms stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $700.43, for a total value of $1,928,283.79. Following the transaction, the chief executive officer now directly owns 85,619 shares in the company, valued at $59,970,116.17. The trade was a 3.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the sale, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,512 shares of company stock valued at $73,590,232. Corporate insiders own 13.61% of the company's stock.

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.