Antonelli Financial Advisors LLC Has $3.82 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Antonelli Financial Advisors LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 2.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,634 shares of the social networking company’s stock after selling 150 shares during the period. Meta Platforms comprises 3.1% of Antonelli Financial Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Antonelli Financial Advisors LLC’s holdings in Meta Platforms were worth $3,824,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in META. Valley Financial Group Inc. lifted its holdings in shares of Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after acquiring an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after acquiring an additional 14 shares during the last quarter. Maiden Cove Capital LLC lifted its holdings in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after acquiring an additional 15 shares during the last quarter. Riverwater Partners LLC lifted its holdings in shares of Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock worth $335,000 after acquiring an additional 15 shares during the last quarter. Finally, ABLE Financial Group LLC lifted its holdings in shares of Meta Platforms by 0.7% in the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company’s stock worth $1,251,000 after acquiring an additional 15 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Up 2.0%

NASDAQ:META opened at $712.20 on Wednesday. The company has a market cap of $1.79 trillion, a PE ratio of 27.78, a P/E/G ratio of 1.72 and a beta of 1.26. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $625.25 and its two-hundred day moving average is $624.38.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same period in the previous year, the business posted $4.71 EPS. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date is Monday, June 16th. Meta Platforms’s payout ratio is 8.19%.

Analyst Upgrades and Downgrades

META has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Citigroup raised their target price on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a report on Thursday, May 1st. Loop Capital lifted their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Bank of America lifted their price objective on shares of Meta Platforms from $690.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $712.69.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total transaction of $453,012.27. Following the completion of the transaction, the insider now directly owns 27,498 shares in the company, valued at approximately $13,525,441.26. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 406 shares of the company’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares of the company’s stock, valued at $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,002 shares of company stock worth $73,353,340. Company insiders own 13.61% of the company’s stock.

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.