Pineridge Advisors LLC Has $57,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Pineridge Advisors LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 31.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98 shares of the social networking company’s stock after selling 46 shares during the quarter. Pineridge Advisors LLC’s holdings in Meta Platforms were worth $57,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Rogco LP increased its stake in Meta Platforms by 8.5% in the first quarter. Rogco LP now owns 1,471 shares of the social networking company’s stock valued at $848,000 after purchasing an additional 115 shares in the last quarter. Ascent Capital Management LLC increased its position in Meta Platforms by 2.0% in the 1st quarter. Ascent Capital Management LLC now owns 2,034 shares of the social networking company’s stock valued at $1,172,000 after buying an additional 40 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Meta Platforms by 5.3% during the 1st quarter. Leavell Investment Management Inc. now owns 11,363 shares of the social networking company’s stock worth $6,549,000 after buying an additional 575 shares during the period. Quotient Wealth Partners LLC boosted its holdings in Meta Platforms by 2.8% in the first quarter. Quotient Wealth Partners LLC now owns 8,216 shares of the social networking company’s stock worth $4,735,000 after acquiring an additional 227 shares in the last quarter. Finally, Main Street Research LLC grew its stake in Meta Platforms by 3.4% in the first quarter. Main Street Research LLC now owns 103,000 shares of the social networking company’s stock valued at $59,365,000 after acquiring an additional 3,341 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ META opened at $717.51 on Monday. The firm has a market cap of $1.80 trillion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $674.77 and its 200-day moving average is $634.57. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 517 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $717.51, for a total value of $370,952.67. Following the sale, the chief operating officer owned 7,336 shares in the company, valued at approximately $5,263,653.36. This represents a 6.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,184 shares of company stock valued at $105,128,004. Corporate insiders own 13.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on META shares. Needham & Company LLC raised Meta Platforms from an “underperform” rating to a “hold” rating in a research report on Thursday, July 3rd. Roth Capital boosted their price target on shares of Meta Platforms from $620.00 to $740.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Loop Capital raised their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a research note on Friday, May 16th. JMP Securities reissued a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research report on Wednesday, April 30th. Finally, Scotiabank lowered their target price on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a report on Monday, April 21st. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $729.38.

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.