Deltec Asset Management LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 7.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,827 shares of the social networking company’s stock after selling 2,284 shares during the quarter. Meta Platforms accounts for 2.8% of Deltec Asset Management LLC’s portfolio, making the stock its 8th largest position. Deltec Asset Management LLC’s holdings in Meta Platforms were worth $13,998,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in META. Beaird Harris Wealth Management LLC increased its stake in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter valued at $32,000. Clear Investment Research LLC increased its position in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Cranbrook Wealth Management LLC lifted 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 buying an additional 45 shares during the period. Finally, Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $39,000. Institutional investors own 79.91% of the company’s stock.
Insider Activity
In related news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the completion of the transaction, the insider now directly owns 38,983 shares of the company’s stock, valued at approximately $18,906,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $516.51, for a total value of $253,089.90. Following the completion of the transaction, the chief operating officer now directly owns 8,069 shares of the company’s stock, valued at $4,167,719.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $485.00, for a total transaction of $283,725.00. Following the transaction, the insider now owns 38,983 shares in the company, valued at approximately $18,906,755. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,557 shares of company stock worth $97,894,296. Corporate insiders own 13.71% of the company’s stock.
Meta Platforms Stock Performance
NASDAQ META opened at $504.22 on Monday. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.28 trillion, a P/E ratio of 28.96, a PEG ratio of 1.31 and a beta of 1.21. The company’s 50-day simple moving average is $480.00 and its 200 day simple moving average is $455.62.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 32.03% and a net margin of 32.06%. As a group, research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is presently 11.49%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Barclays dropped their price target on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Wolfe Research reduced their target price on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Robert W. Baird dropped their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Raymond James raised their price objective on Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, June 5th. Finally, JPMorgan Chase & Co. cut their target price on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $510.05.
Read Our Latest Report on Meta Platforms
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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