Platform Technology Partners Sells 340 Shares of Meta Platforms, Inc. (NASDAQ:META)

Platform Technology Partners lessened its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,108 shares of the social networking company’s stock after selling 340 shares during the period. Meta Platforms accounts for about 1.4% of Platform Technology Partners’ portfolio, making the stock its 10th biggest holding. Platform Technology Partners’ holdings in Meta Platforms were worth $3,578,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Epoch Investment Partners Inc. grew its stake in shares of Meta Platforms by 42.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,041,091 shares of the social networking company’s stock worth $368,505,000 after purchasing an additional 307,975 shares during the last quarter. Pinnbrook Capital Management LP grew its position in shares of Meta Platforms by 42.8% in the 4th quarter. Pinnbrook Capital Management LP now owns 14,291 shares of the social networking company’s stock valued at $5,058,000 after buying an additional 4,281 shares during the last quarter. Client 1ST Advisory Group LLC increased its stake in shares of Meta Platforms by 10.7% in the fourth quarter. Client 1ST Advisory Group LLC now owns 1,859 shares of the social networking company’s stock valued at $658,000 after buying an additional 180 shares during the period. Angeles Wealth Management LLC raised its position in shares of Meta Platforms by 10.7% during the fourth quarter. Angeles Wealth Management LLC now owns 5,403 shares of the social networking company’s stock worth $1,912,000 after acquiring an additional 522 shares during the last quarter. Finally, Morningstar Investment Services LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth approximately $406,316,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent analyst reports. Loop Capital decreased their target price on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Sanford C. Bernstein decreased their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a report on Monday, April 22nd. Citigroup cut their price target on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms 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 assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $510.41.

Check Out Our Latest Report on Meta Platforms

Insider Activity

In other news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the sale, the chief technology officer now owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The disclosure for this sale can be found here. Insiders have sold a total of 604,890 shares of company stock valued at $297,429,900 over the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META traded down $0.80 on Friday, hitting $492.96. 9,075,323 shares of the stock traded hands, compared to its average volume of 16,963,775. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The business’s fifty day moving average is $480.37 and its two-hundred day moving average is $434.68. Meta Platforms, Inc. has a 12 month low of $258.88 and a 12 month high of $531.49. The firm has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 28.53, a PEG ratio of 1.28 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results 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. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.41%. Meta Platforms’s payout ratio is 11.49%.

Meta Platforms Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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