Meta Platforms, Inc. (NASDAQ:META) Shares Sold by FinTrust Capital Advisors LLC

FinTrust Capital Advisors LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 33.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,905 shares of the social networking company’s stock after selling 5,455 shares during the quarter. Meta Platforms makes up approximately 1.0% of FinTrust Capital Advisors LLC’s investment portfolio, making the stock its 20th largest position. FinTrust Capital Advisors LLC’s holdings in Meta Platforms were worth $5,295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quest Partners LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC raised its position in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Cranbrook Wealth Management LLC lifted its stake in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Gilfoyle & Co LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth $39,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Meta Platforms during the 1st quarter worth about $44,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.1 %

Shares of META stock opened at $530.00 on Wednesday. The business’s fifty day moving average price is $488.29 and its 200 day moving average price is $464.16. The firm has a market capitalization of $1.34 trillion, a PE ratio of 30.44, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly 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 analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 20.15 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on META shares. Oppenheimer lowered their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Guggenheim cut their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lowered their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $545.00 price objective (down previously from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $511.88.

Get Our Latest Report on Meta Platforms

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total value of $291,675.15. Following the sale, the insider now owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total value of $291,675.15. Following the sale, the insider now owns 37,813 shares in the company, valued at approximately $18,853,183.67. The disclosure for this sale can be found here. Insiders sold 260,459 shares of company stock valued at $128,049,749 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

(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

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

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