Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,467 shares of the social networking company’s stock after selling 393 shares during the quarter. Meta Platforms comprises about 1.9% of Pursue Wealth Partners LLC’s portfolio, making the stock its 17th biggest holding. Pursue Wealth Partners LLC’s holdings in Meta Platforms were worth $3,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Centerpoint Advisory Group raised its position in shares of Meta Platforms by 12.7% during the 1st quarter. Centerpoint Advisory Group now owns 1,046 shares of the social networking company’s stock worth $603,000 after buying an additional 118 shares in the last quarter. Verde Servicos Internacionais S.A. bought a new position in shares of Meta Platforms in the first quarter valued at approximately $4,346,000. Flagship Harbor Advisors LLC increased its stake in shares of Meta Platforms by 4.6% during the first quarter. Flagship Harbor Advisors LLC now owns 23,805 shares of the social networking company’s stock valued at $13,720,000 after acquiring an additional 1,049 shares during the period. Duncker Streett & Co. Inc. raised its holdings in Meta Platforms by 18.6% during the first quarter. Duncker Streett & Co. Inc. now owns 956 shares of the social networking company’s stock worth $551,000 after purchasing an additional 150 shares in the last quarter. Finally, Hudson Value Partners LLC lifted its position in Meta Platforms by 7.9% in the first quarter. Hudson Value Partners LLC now owns 2,639 shares of the social networking company’s stock worth $1,521,000 after purchasing an additional 194 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on META shares. Barclays lowered their price target on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lifted their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Benchmark dropped their price target on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley raised their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Finally, KeyCorp lifted their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. One investment 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 assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $712.69.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the sale, the chief technology officer now owns 16,463 shares in the company, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the sale, the chief executive officer now owns 118,279 shares of the company’s stock, valued at approximately $82,928,955.27. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,002 shares of company stock valued at $73,353,340 over the last quarter. Insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $712.20 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market cap of $1.79 trillion, a PE ratio of 27.78, a PEG ratio of 1.72 and a beta of 1.26. The firm’s 50 day moving average price is $625.25 and its 200 day moving average price is $624.38. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating 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 business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the firm earned $4.71 EPS. Meta Platforms’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s dividend payout ratio is currently 8.19%.

Meta Platforms Company 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.