Vivid Wealth Management LLC Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Vivid Wealth Management LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 16.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 reporting period.

Other institutional investors have also modified their holdings of the company. Fjell Capital LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $1,836,000. Opulen Financial Group LLC purchased a new stake in Meta Platforms in the 4th quarter valued at approximately $325,000. Daner Wealth Management LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $334,000. Brighton Jones LLC grew its holdings in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after acquiring an additional 570 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Meta Platforms during the fourth quarter worth about $112,406,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $614.97, for a total value of $373,901.76. Following the completion of the sale, the chief operating officer now directly owns 6,838 shares in the company, valued at $4,205,164.86. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 7,802 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $701.96, for a total transaction of $5,476,691.92. Following the completion of the sale, the chief executive officer now owns 110,477 shares of the company’s stock, valued at $77,550,434.92. This represents a 6.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,672 shares of company stock worth $55,455,647. 13.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent analyst reports. Bank of America increased their price target on Meta Platforms from $690.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. The Goldman Sachs Group raised their target price on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Roth Capital boosted their price objective on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Guggenheim increased their target price on Meta Platforms from $675.00 to $725.00 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 given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $706.88.

Meta Platforms Stock Down 0.7%

META opened at $697.23 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock’s 50 day moving average price is $610.13 and its 200 day moving average price is $621.38. The stock has a market cap of $1.75 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.73 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share 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 company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the business posted $4.71 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research 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 disclosed 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 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

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.