Meridian Management Co. Sells 140 Shares of Meta Platforms, Inc. (NASDAQ:META)

Meridian Management Co. reduced its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,745 shares of the social networking company’s stock after selling 140 shares during the quarter. Meta Platforms comprises 1.7% of Meridian Management Co.’s holdings, making the stock its 15th largest holding. Meridian Management Co.’s holdings in Meta Platforms were worth $6,189,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in META. Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in Meta Platforms in the third quarter valued at approximately $265,000. Carmignac Gestion grew its stake in Meta Platforms by 1.2% in the third quarter. Carmignac Gestion now owns 1,005,530 shares of the social networking company’s stock valued at $301,874,000 after acquiring an additional 12,235 shares during the period. Alamar Capital Management LLC acquired a new stake in Meta Platforms in the third quarter valued at approximately $201,000. Neo Ivy Capital Management grew its stake in Meta Platforms by 600.8% in the third quarter. Neo Ivy Capital Management now owns 8,788 shares of the social networking company’s stock valued at $2,638,000 after acquiring an additional 7,534 shares during the period. Finally, Modera Wealth Management LLC grew its stake in Meta Platforms by 8.5% in the third quarter. Modera Wealth Management LLC now owns 7,775 shares of the social networking company’s stock valued at $2,334,000 after acquiring an additional 607 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on META. Royal Bank of Canada cut their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Loop Capital reaffirmed a “buy” rating and set a $550.00 target price on shares of Meta Platforms in a research report on Wednesday, July 3rd. Rosenblatt Securities lifted their target price on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group cut their target price on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, BNP Paribas began coverage on Meta Platforms in a research report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $513.59.

Read Our Latest Research Report on META

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Nicholas Clegg sold 1,135 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $535,549.75. Following the completion of the transaction, the insider now directly owns 8,753 shares in the company, valued at approximately $4,130,103.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold 260,459 shares of company stock worth $128,049,749 in the last ninety days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $0.25 during midday trading on Wednesday, reaching $530.25. 853,492 shares of the company traded hands, compared to its average volume of 16,100,241. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81. The firm has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The firm’s fifty day moving average price is $488.29 and its two-hundred day moving average price is $464.16.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities analysts expect that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Meta Platforms Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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