Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.1% during the 1st quarter, HoldingsChannel reports. The firm owned 2,429 shares of the social networking company’s stock after selling 105 shares during the quarter. Meta Platforms accounts for 0.4% of Opal Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Opal Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Vanguard Group Inc. grew its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock valued at $28,719,970,000 after acquiring an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock valued at $24,777,282,000 after acquiring an additional 1,049,121 shares in the last quarter. Capital World Investors grew its holdings in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock valued at $23,606,338,000 after acquiring an additional 1,141,355 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Meta Platforms during the 4th quarter valued at $19,949,512,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 1,462 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the completion of the transaction, the chief executive officer now owns 139,538 shares in the company, valued at $97,834,277.94. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,593 shares of company stock worth $56,008,477 over the last ninety days. Company insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on META. Wedbush lifted their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Moffett Nathanson lifted their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $676.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 11th. Finally, Roth Capital lifted their price objective on shares of Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $704.26.

Meta Platforms Price Performance

Shares of META stock opened at $682.87 on Monday. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The firm’s 50 day moving average is $604.07 and its 200-day moving average is $619.96. The firm has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.42 and a beta of 1.26. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced 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 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the business earned $4.71 earnings per share. Meta Platforms’s quarterly revenue was up 16.1% on a year-over-year basis. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s payout ratio is 8.19%.

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.