Vivid Wealth Management LLC Trims Position in Meta Platforms, Inc. (NASDAQ:META)

Vivid Wealth Management LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,784 shares of the social networking company’s stock after selling 746 shares during the quarter. Vivid Wealth Management LLC’s holdings in Meta Platforms were worth $2,181,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vista Investment Partners LLC grew its holdings in Meta Platforms by 19.7% during the 1st quarter. Vista Investment Partners LLC now owns 1,058 shares of the social networking company’s stock valued at $610,000 after buying an additional 174 shares in the last quarter. AA Financial Advisors LLC increased its position in Meta Platforms by 24.7% during the first quarter. AA Financial Advisors LLC now owns 2,567 shares of the social networking company’s stock valued at $1,480,000 after acquiring an additional 508 shares during the last quarter. WD Rutherford LLC raised its position in Meta Platforms by 12.7% in the 1st quarter. WD Rutherford LLC now owns 6,156 shares of the social networking company’s stock worth $3,548,000 after purchasing an additional 696 shares during the period. Inscription Capital LLC purchased a new stake in shares of Meta Platforms in the first quarter worth approximately $3,235,000. Finally, JLB & Associates Inc. increased its stake in Meta Platforms by 83.8% in the first quarter. JLB & Associates Inc. now owns 3,721 shares of the social networking company’s stock worth $2,145,000 after purchasing an additional 1,697 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief technology officer now owns 16,463 shares in the company, valued at approximately $10,855,043.68. This trade represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,672 shares of company stock worth $55,455,647 in the last 90 days. Insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on META shares. Pivotal Research reduced their target price on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. Monness Crespi & Hardt increased their price objective on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, May 1st. KeyCorp lifted their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus lifted their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $706.88.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $697.23 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The firm has a market capitalization of $1.75 trillion, a PE ratio of 27.19, a P/E/G ratio of 1.73 and a beta of 1.26. The business’s 50 day moving average price is $610.13 and its 200-day moving average price is $621.38.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 EPS. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Meta Platforms 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.