Meta Platforms, Inc. (NASDAQ:META) Stake Lessened by Financial Management Network Inc.

Financial Management Network Inc. cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,067 shares of the social networking company’s stock after selling 135 shares during the period. Financial Management Network Inc.’s holdings in Meta Platforms were worth $1,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wincap Financial LLC lifted its stake in Meta Platforms by 15.2% during the first quarter. Wincap Financial LLC now owns 645 shares of the social networking company’s stock valued at $372,000 after purchasing an additional 85 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Meta Platforms during the first quarter valued at approximately $33,000. PTM Wealth Management LLC acquired a new stake in Meta Platforms during the first quarter valued at approximately $228,000. Foundations Investment Advisors LLC lifted its stake in Meta Platforms by 8.4% during the first quarter. Foundations Investment Advisors LLC now owns 61,633 shares of the social networking company’s stock valued at $35,523,000 after purchasing an additional 4,758 shares during the last quarter. Finally, Maridea Wealth Management LLC lifted its position in shares of Meta Platforms by 120.7% in the 1st quarter. Maridea Wealth Management LLC now owns 2,282 shares of the social networking company’s stock valued at $1,315,000 after acquiring an additional 1,248 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 22,449 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares in the company, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,980 shares of company stock worth $105,708,832 over the last ninety days. Corporate insiders own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $795.00 to $875.00 and gave the company an “overweight” rating in a research report on Thursday. Hsbc Global Res upgraded shares of Meta Platforms from a “hold” rating to a “strong-buy” rating in a research report on Thursday. UBS Group upped their price target on shares of Meta Platforms from $812.00 to $897.00 and gave the company a “buy” rating in a research report on Thursday. Guggenheim restated a “buy” rating and issued a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a research report on Monday. Finally, Stifel Nicolaus upped their price target on shares of Meta Platforms from $845.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $820.32.

Meta Platforms Stock Performance

NASDAQ:META opened at $750.01 on Friday. Meta Platforms, Inc. has a 12-month low of $450.80 and a 12-month high of $784.75. The company has a quick ratio of 2.66, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.89 trillion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.84 and a beta of 1.27. The firm has a 50-day moving average price of $701.68 and a 200 day moving average price of $645.68.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. During the same quarter in the prior year, the business posted $5.16 earnings per share. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is 8.19%.

Meta Platforms 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.