Mountain Capital Investment Advisors Inc. Sells 35 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mountain Capital Investment Advisors Inc. decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 542 shares of the social networking company’s stock after selling 35 shares during the quarter. Mountain Capital Investment Advisors Inc.’s holdings in Meta Platforms were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of META. Opulen Financial Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $325,000. Brighton Jones LLC boosted its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after buying an additional 570 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after buying an additional 875 shares in the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of Meta Platforms by 5.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company’s stock valued at $1,989,000 after buying an additional 178 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its position in shares of Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company’s stock valued at $129,666,000 after purchasing an additional 7,587 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Guggenheim increased their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. TD Securities dropped their price target on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Piper Sandler reissued an “overweight” rating and issued a $808.00 price target (up previously from $650.00) on shares of Meta Platforms in a research note on Friday, June 27th. Finally, Rosenblatt Securities lifted their target price 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. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $719.29.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. This trade represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer directly owned 70,040 shares of the company’s stock, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,756 shares of company stock worth $104,720,878. Insiders own 13.61% of the company’s stock.

Meta Platforms Stock Down 0.1%

META stock opened at $718.35 on Tuesday. The company’s 50 day moving average price is $662.26 and its 200 day moving average price is $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 fifty-two week low of $442.65 and a fifty-two week high of $747.90. The firm has a market capitalization 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 announced its quarterly earnings results 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. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.71 earnings per share. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

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.