Forthright Family Wealth Advisory LLC Sells 24 Shares of Meta Platforms, Inc. (NASDAQ:META)

Forthright Family Wealth Advisory LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 466 shares of the social networking company’s stock after selling 24 shares during the period. Forthright Family Wealth Advisory LLC’s holdings in Meta Platforms were worth $269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Meta Platforms in the fourth quarter worth about $19,949,512,000. GAMMA Investing LLC lifted its stake in shares of Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Meta Platforms in the fourth quarter worth approximately $2,243,603,000. Northern Trust Corp grew its position in Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after buying an additional 2,787,832 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Meta Platforms by 712.2% during the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company’s stock valued at $1,462,589,000 after buying an additional 2,225,186 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 1.3%

Shares of META opened at $717.51 on Monday. The company’s fifty day simple moving average is $674.77 and its 200-day simple moving average is $634.57. The company has a market cap of $1.80 trillion, a P/E ratio of 27.98, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping 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 company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the company posted $4.71 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on META shares. Citigroup lifted their price target on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Cantor Fitzgerald boosted their price target on Meta Platforms from $676.00 to $807.00 and gave the company an “overweight” rating in a report on Wednesday, June 18th. Scotiabank decreased their price objective on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a research note on Monday, April 21st. Raymond James Financial cut their price objective on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 1st. Finally, Rosenblatt Securities lifted their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $729.38.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction 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 sale, the chief financial officer directly owned 70,040 shares of the company’s stock, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,184 shares of company stock valued at $105,128,004 in the last quarter. 13.61% of the stock is owned by insiders.

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.