Mutual Advisors LLC Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Mutual Advisors LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,556 shares of the social networking company’s stock after selling 494 shares during the period. Meta Platforms accounts for 0.7% of Mutual Advisors LLC’s holdings, making the stock its 19th biggest position. Mutual Advisors LLC’s holdings in Meta Platforms were worth $23,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Suvretta Capital Management LLC lifted its holdings in Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock valued at $99,735,000 after purchasing an additional 1,850 shares in the last quarter. Skye Global Management LP lifted its holdings in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after purchasing an additional 43,200 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in Meta Platforms by 255.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock valued at $1,001,044,000 after purchasing an additional 1,229,350 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Meta Platforms by 25.1% during the fourth quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company’s stock valued at $215,760,000 after purchasing an additional 73,907 shares in the last quarter. Finally, Arcadia Wealth Management Inc. purchased a new position in Meta Platforms during the fourth quarter valued at $600,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.1%

NASDAQ META opened at $718.35 on Tuesday. The firm has a 50 day simple moving average of $662.26 and a 200-day simple moving average of $631.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The firm has a market cap of $1.81 trillion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.76 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last posted 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 analyst estimates of $41.45 billion. During the same quarter last year, the firm posted $4.71 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer owned 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the business’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 of the company’s stock, valued at $82,928,955.27. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,756 shares of company stock valued at $104,720,878. 13.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a report on Thursday, May 1st. Needham & Company LLC raised shares of Meta Platforms from an “underperform” rating to a “hold” rating in a research note on Thursday, July 3rd. Rosenblatt Securities raised their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. KeyCorp raised their price target 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. Finally, Loop Capital raised their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $719.29.

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.