Meta Platforms, Inc. (NASDAQ:META) Holdings Decreased by Telos Capital Management Inc.

Telos Capital Management Inc. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,928 shares of the social networking company’s stock after selling 164 shares during the quarter. Telos Capital Management Inc.’s holdings in Meta Platforms were worth $6,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of META. Inlight Wealth Management LLC purchased a new position in shares of Meta Platforms during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms during the first quarter valued at $28,000. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. This represents a 10.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer owned 70,040 shares in the company, 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. Insiders sold a total of 152,263 shares of company stock valued at $104,638,750 in the last quarter. Corporate insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Loop Capital boosted their target price on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Susquehanna lowered their target price on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. TD Cowen boosted their target price on Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Bank of America boosted their target price on Meta Platforms from $690.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Finally, Needham & Company LLC upgraded Meta Platforms from an “underperform” rating to a “hold” rating in a research note on Thursday, July 3rd. 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 stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $729.38.

Meta Platforms Trading Up 0.5%

Meta Platforms stock opened at $720.92 on Tuesday. The business has a 50 day moving average price of $677.20 and a two-hundred day moving average price of $635.41. 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 28.12, a price-to-earnings-growth ratio of 1.76 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 posted 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 firm 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 company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.71 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

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

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.