Stillwater Wealth Management Group Sells 116 Shares of Meta Platforms, Inc. (NASDAQ:META)

Stillwater Wealth Management Group trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 960 shares of the social networking company’s stock after selling 116 shares during the quarter. Stillwater Wealth Management Group’s holdings in Meta Platforms were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of META. Suvretta Capital Management LLC raised its stake in shares of Meta Platforms by 1.1% in 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 raised its stake in shares of Meta Platforms by 130.9% in 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 raised its stake in shares of Meta Platforms by 255.9% in 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 raised its stake in shares of Meta Platforms by 25.1% in 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. acquired a new position in shares of Meta Platforms in the fourth quarter valued at $600,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

Shares of META stock opened at $702.91 on Thursday. The stock has a 50-day moving average price of $681.78 and a 200 day moving average price of $636.39. 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 firm has a market cap of $1.77 trillion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.74 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90.

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, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the company earned $4.71 earnings per share. Research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders 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 0.30%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.19%.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares in the company, 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. Over the last quarter, insiders have sold 152,780 shares of company stock worth $105,009,697. Insiders own 13.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on META. Pivotal Research cut their target price on Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Roth Capital increased their price objective on Meta Platforms from $620.00 to $740.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. TD Cowen increased their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Evercore ISI increased their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Finally, UBS Group reiterated a “buy” rating and set a $812.00 price objective (up from $683.00) on shares of Meta Platforms in a research note on Thursday, June 26th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $732.67.

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.