Meta Platforms, Inc. (NASDAQ:META) Shares Sold by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,315 shares of the social networking company’s stock after selling 66 shares during the period. TRUE Private Wealth Advisors’ holdings in Meta Platforms were worth $2,176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tennessee Valley Asset Management Partners increased its position in Meta Platforms by 0.6% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after purchasing an additional 27 shares during the last quarter. NewEdge Wealth LLC raised its position in shares of Meta Platforms by 20.0% in the 4th quarter. NewEdge Wealth LLC now owns 158,414 shares of the social networking company’s stock worth $56,072,000 after buying an additional 26,416 shares during the period. Seascape Capital Management boosted its holdings in Meta Platforms by 36.2% in the fourth quarter. Seascape Capital Management now owns 985 shares of the social networking company’s stock valued at $349,000 after acquiring an additional 262 shares during the last quarter. ORG Partners LLC increased its stake in Meta Platforms by 22.9% during the fourth quarter. ORG Partners LLC now owns 2,143 shares of the social networking company’s stock worth $759,000 after acquiring an additional 400 shares during the last quarter. Finally, Ingalls & Snyder LLC lifted its stake in shares of Meta Platforms by 1.8% in the 4th quarter. Ingalls & Snyder LLC now owns 48,694 shares of the social networking company’s stock valued at $17,236,000 after purchasing an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 315,770 shares of company stock valued at $157,719,910. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 0.3 %

META traded down $1.78 on Wednesday, reaching $526.76. 10,771,298 shares of the company traded hands, compared to its average volume of 16,373,998. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The company has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.35, a PEG ratio of 1.27 and a beta of 1.21. The stock’s 50 day moving average price is $498.29 and its 200-day moving average price is $485.68.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the company earned $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, sell-side analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Loop Capital raised their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Roth Mkm boosted their price objective on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their target price on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Cowen lifted their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $572.51.

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.