Baldwin Wealth Partners LLC MA Reduces Stake in Meta Platforms, Inc. (NASDAQ:META)

Baldwin Wealth Partners LLC MA lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the 1st quarter, Holdings Channel reports. The fund owned 5,502 shares of the social networking company’s stock after selling 91 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Meta Platforms were worth $3,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of META. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter valued at $19,949,512,000. GAMMA Investing LLC raised its holdings in Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock valued at $13,517,178,000 after buying an additional 23,417,803 shares during the period. Proficio Capital Partners LLC lifted its position in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after buying an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Meta Platforms in the fourth quarter valued at about $2,243,603,000. Finally, Northern Trust Corp boosted its stake in Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after buying an additional 2,787,832 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on META shares. The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. UBS Group lifted their price objective on Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Loop Capital increased their target price on Meta Platforms from $695.00 to $888.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Susquehanna dropped their target price on Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Finally, Truist Financial boosted their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a research note 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 given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $702.48.

Insider Activity

In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the sale, the chief technology officer now owns 16,463 shares in the company, valued at $10,855,043.68. This represents a 23.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $607.50, for a total value of $369,360.00. Following the completion of the transaction, the chief operating officer now directly owns 7,446 shares in the company, valued at approximately $4,523,445. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,563 shares of company stock valued at $34,793,185. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Up 1.9%

Shares of Meta Platforms stock opened at $697.71 on Monday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $587.67 and a two-hundred day moving average price of $615.55. The stock has a market capitalization of $1.75 trillion, a P/E ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. 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 previous year, the company earned $4.71 earnings per share. Meta Platforms’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

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.