Mach 1 Financial Group LLC Decreases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Mach 1 Financial Group LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 44.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,077 shares of the social networking company's stock after selling 2,452 shares during the quarter. Mach 1 Financial Group LLC's holdings in Meta Platforms were worth $1,089,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stone House Investment Management LLC increased its holdings in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its holdings in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. PayPay Securities Corp increased its holdings in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company's stock valued at $33,000 after purchasing an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of META traded down $2.45 during midday trading on Tuesday, reaching $430.17. The stock had a trading volume of 18,396,504 shares, compared to its average volume of 18,427,248. Meta Platforms, Inc. has a one year low of $229.85 and a one year high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $492.83 and a 200-day simple moving average of $406.97. The firm has a market cap of $1.10 trillion, a PE ratio of 24.71, a P/E/G ratio of 1.15 and a beta of 1.20.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts' expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.2 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Wednesday, February 21st. Meta Platforms's dividend payout ratio (DPR) is presently 11.49%.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now directly owns 18,432 shares of the company's stock, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now directly owns 18,432 shares of the company's stock, valued at approximately $8,723,496.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 7,556 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,576,103.68. Following the sale, the chief operating officer now directly owns 77,569 shares in the company, valued at $36,711,856.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,276,482 shares of company stock valued at $620,451,095. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Tigress Financial raised their target price on Meta Platforms from $435.00 to $575.00 and gave the stock a "strong-buy" rating in a research note on Friday, February 9th. Royal Bank of Canada cut their target price on Meta Platforms from $600.00 to $570.00 and set an "outperform" rating for the company in a research note on Thursday, April 25th. Piper Sandler reaffirmed an "overweight" rating and issued a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Raymond James dropped their price objective on Meta Platforms from $550.00 to $525.00 and set a "strong-buy" rating for the company in a research note on Thursday, April 25th. Finally, Oppenheimer dropped their price objective on Meta Platforms from $585.00 to $500.00 and set an "outperform" rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $509.18.

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.

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