Meta Platforms, Inc. (NASDAQ:META) Stock Position Decreased by First Affirmative Financial Network

First Affirmative Financial Network cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,561 shares of the social networking company’s stock after selling 260 shares during the period. Meta Platforms accounts for about 0.9% of First Affirmative Financial Network’s investment portfolio, making the stock its 16th largest position. First Affirmative Financial Network’s holdings in Meta Platforms were worth $1,476,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in META. Fjell Capital LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $1,836,000. Opulen Financial Group LLC bought a new position in shares of Meta Platforms in the 4th quarter valued at approximately $325,000. Daner Wealth Management LLC acquired a new stake in Meta Platforms in the 4th quarter worth approximately $334,000. Appleton Partners Inc. MA lifted its holdings in Meta Platforms by 3.7% in the 4th quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company’s stock worth $15,406,000 after purchasing an additional 951 shares during the last quarter. Finally, Brighton Jones LLC boosted its position in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on META shares. The Goldman Sachs Group increased their price target on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. KeyCorp increased their price target on Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Susquehanna lowered their price target on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Monness Crespi & Hardt increased their price target on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Wedbush increased 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. One equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $702.48.

Meta Platforms Trading Up 1.9%

Shares of META opened at $697.71 on Friday. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $587.67 and a 200-day simple moving average of $614.84. The stock has a market cap of $1.75 trillion, a PE ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms’s dividend payout ratio is 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total value of $547,995.00. Following the transaction, the insider now directly owns 33,024 shares in the company, valued at approximately $19,649,280. This trade represents a 2.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,171 shares of company stock valued at $35,163,457 in the last three months. Corporate insiders own 13.61% of the company’s stock.

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.