Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 17.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 19,081 shares of the social networking company’s stock after selling 4,040 shares during the quarter. Integrated Advisors Network LLC’s holdings in Meta Platforms were worth $10,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integral Investment Advisors Inc. lifted its position in Meta Platforms by 575.8% during the 1st quarter. Integral Investment Advisors Inc. now owns 4,683 shares of the social networking company’s stock worth $2,699,000 after acquiring an additional 3,990 shares during the period. Atwood & Palmer Inc. lifted its position in Meta Platforms by 9.9% during the 1st quarter. Atwood & Palmer Inc. now owns 1,115 shares of the social networking company’s stock worth $643,000 after acquiring an additional 100 shares during the period. Gibson Capital LLC lifted its position in Meta Platforms by 78.6% during the 1st quarter. Gibson Capital LLC now owns 650 shares of the social networking company’s stock worth $375,000 after acquiring an additional 286 shares during the period. Petredis Investment Advisors LLC lifted its position in Meta Platforms by 1.2% during the 1st quarter. Petredis Investment Advisors LLC now owns 46,097 shares of the social networking company’s stock worth $26,568,000 after acquiring an additional 566 shares during the period. Finally, Sanibel Captiva Trust Company Inc. lifted its position in Meta Platforms by 3.3% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 32,846 shares of the social networking company’s stock worth $18,931,000 after acquiring an additional 1,055 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price target on Meta Platforms from $752.00 to $664.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Citigroup lifted their price target on Meta Platforms from $655.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Morgan Stanley lifted their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, Raymond James reduced their price objective on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $702.48.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares in the company, valued at $2,744,547.96. The trade was a 9.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert M. Kimmitt sold 475 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $298,418.75. Following the transaction, the director now owns 10,272 shares in the company, valued at approximately $6,453,384. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,104 shares of company stock worth $35,270,242 in the last ninety days. Insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 1.2%

META stock opened at $702.40 on Wednesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The stock has a market cap of $1.77 trillion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.42 and a beta of 1.26. The business’s 50-day moving average is $593.29 and its 200 day moving average is $617.09.

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

Meta Platforms Dividend Announcement

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