Accredited Investors Inc. Sells 61 Shares of Meta Platforms, Inc. (NASDAQ:META)

Accredited Investors Inc. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,344 shares of the social networking company’s stock after selling 61 shares during the quarter. Accredited Investors Inc.’s holdings in Meta Platforms were worth $2,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tennessee Valley Asset Management Partners lifted its position in shares of 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 in the last quarter. Criterion Capital Advisors LLC bought a new position in Meta Platforms in the 4th quarter valued at $45,000. Riggs Asset Managment Co. Inc. raised its position in shares of Meta Platforms by 54,888.9% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 4,949 shares of the social networking company’s stock worth $1,752,000 after acquiring an additional 4,940 shares during the last quarter. CWM LLC lifted its stake in shares of Meta Platforms by 15.4% during the fourth quarter. CWM LLC now owns 221,238 shares of the social networking company’s stock valued at $78,309,000 after acquiring an additional 29,465 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Meta Platforms by 8.5% in the fourth quarter. Handelsbanken Fonder AB now owns 750,373 shares of the social networking company’s stock valued at $265,602,000 after acquiring an additional 58,650 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total transaction of $483,224.75. Following the completion of the sale, the insider now owns 36,940 shares in the company, valued at approximately $19,724,113. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the sale, the insider now directly owns 36,940 shares of the company’s stock, valued at approximately $19,724,113. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,688 shares of company stock valued at $194,424,740. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 0.4 %

Shares of NASDAQ:META traded up $1.86 during midday trading on Monday, hitting $529.28. The stock had a trading volume of 9,869,718 shares, compared to its average volume of 16,325,153. The company has a market cap of $1.34 trillion, a P/E ratio of 30.40, a PEG ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $276.03 and a 12 month high of $542.81. The business’s 50-day simple moving average is $501.01 and its 200-day simple moving average is $489.45. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Ratings Changes

META has been the topic of a number of research reports. Stifel Nicolaus upped their target price on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their target price on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays raised their price target on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Susquehanna upped their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

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.