Meta Platforms, Inc. (NASDAQ:META) Stock Position Lowered by Allworth Financial LP

Allworth Financial LP lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 2.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,250 shares of the social networking company’s stock after selling 1,016 shares during the period. Allworth Financial LP’s holdings in Meta Platforms were worth $25,724,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on META shares. Oppenheimer lifted their target price on Meta Platforms from $665.00 to $775.00 and gave the stock an “outperform” rating in a report on Monday, June 16th. Wedbush lifted their price target on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Scotiabank lowered their price target on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a report on Monday, April 21st. Jefferies Financial Group lowered their price target on Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, Evercore ISI lifted their price target on Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $729.38.

Insider Activity

In other news, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total value of $374,494.83. Following the sale, the insider directly owned 27,107 shares in the company, valued at approximately $19,559,597.99. This represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,263 shares of company stock worth $104,638,750. Company insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $720.92 on Tuesday. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $1.81 trillion, a PE ratio of 28.12, a P/E/G ratio of 1.76 and a beta of 1.28. The stock has a 50-day simple moving average of $677.20 and a 200 day simple moving average of $635.41.

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

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date 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.