Main Street Group LTD Has $405,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Main Street Group LTD cut its position in Meta Platforms, Inc. (NASDAQ:META) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 692 shares of the social networking company’s stock after selling 25 shares during the quarter. Main Street Group LTD’s holdings in Meta Platforms were worth $405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the 4th quarter worth $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at $45,000. Cordant Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth $59,000. Finally, Conquis Financial LLC purchased a new position in Meta Platforms during the fourth quarter worth about $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the transaction, the insider now owns 308,686 shares in the company, valued at $209,199,589.06. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $592.52, for a total transaction of $545,710.92. Following the completion of the transaction, the insider now directly owns 25,656 shares of the company’s stock, valued at approximately $15,201,693.12. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,324 shares of company stock worth $68,637,452. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $656.03 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The business has a 50 day moving average of $569.09 and a 200 day moving average of $605.57. The company has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.71 earnings per share. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s dividend payout ratio is currently 8.19%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on META. Wells Fargo & Company dropped their price target on Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of Meta Platforms from $610.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Jefferies Financial Group lowered their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Barclays reduced their target price on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, Benchmark lowered their price target on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $696.45.

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.