Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Trimmed by Strategic Advisors LLC

Strategic Advisors LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,179 shares of the social networking company’s stock after selling 546 shares during the quarter. Meta Platforms makes up about 1.7% of Strategic Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Strategic Advisors LLC’s holdings in Meta Platforms were worth $8,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Suvretta Capital Management LLC boosted its stake in Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock valued at $99,735,000 after acquiring an additional 1,850 shares during the period. Skye Global Management LP boosted its stake in Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after acquiring an additional 43,200 shares during the period. Brueske Advisory Services LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $459,000. Kovitz Investment Group Partners LLC boosted its stake in Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock valued at $1,001,044,000 after acquiring an additional 1,229,350 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after acquiring an additional 110,040 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

NASDAQ META opened at $695.77 on Thursday. The stock has a market capitalization of $1.75 trillion, a P/E ratio of 27.14, a P/E/G ratio of 1.72 and a beta of 1.26. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The business’s fifty day moving average is $612.33 and its two-hundred day moving average is $621.89. 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 (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the business earned $4.71 EPS. The company’s revenue was up 16.1% on a year-over-year basis. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.19%.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the sale, the insider now owns 31,182 shares of the company’s stock, valued at approximately $19,552,673.10. This trade represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 608 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $614.97, for a total value of $373,901.76. Following the completion of the transaction, the chief operating officer now directly owns 6,838 shares in the company, valued at approximately $4,205,164.86. The trade was a 8.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,512 shares of company stock valued at $73,590,232 in the last three months. 13.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. KeyCorp lifted their target price on Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Cantor Fitzgerald boosted their price objective on Meta Platforms from $676.00 to $807.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. Monness Crespi & Hardt boosted their price objective on Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Roth Capital boosted their price objective on Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $710.00.

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.