Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,507 shares of the social networking company’s stock after selling 170 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Meta Platforms were worth $2,597,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Inlight Wealth Management LLC acquired a new position in Meta Platforms in the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Meta Platforms in the 1st quarter worth about $28,000. Millstone Evans Group LLC acquired a new position in Meta Platforms in the 4th quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the 4th quarter worth about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on META. Morgan Stanley upped their price target on Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Moffett Nathanson upped their price target on Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Benchmark cut their price objective on Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Wedbush boosted their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus boosted their price objective on Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $719.29.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was 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 directly owned 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares of the company’s stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,756 shares of company stock worth $104,720,878 over the last ninety days. Company insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $718.35 on Tuesday. The business has a fifty day moving average of $662.26 and a two-hundred day moving average of $631.21. 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 stock has a market cap of $1.81 trillion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.71 earnings per share. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

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

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.