LongView Wealth Management Sells 61 Shares of Meta Platforms, Inc. (NASDAQ:META)

LongView Wealth Management decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,633 shares of the social networking company’s stock after selling 61 shares during the period. LongView Wealth Management’s holdings in Meta Platforms were worth $941,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Valley Financial Group Inc. lifted its stake in Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after purchasing an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC lifted its holdings in Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock valued at $1,743,000 after acquiring an additional 14 shares during the last quarter. Meredith Wealth Planning lifted its holdings in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after acquiring an additional 15 shares during the last quarter. Maiden Cove Capital LLC lifted its holdings in Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after acquiring an additional 15 shares during the last quarter. Finally, Riverwater Partners LLC lifted its holdings in Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after acquiring an additional 15 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $682.35 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $618.10 and a 200 day moving average price of $623.14. The company has a market cap of $1.72 trillion, a P/E ratio of 26.61, a PEG ratio of 1.68 and a beta of 1.26. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms’s dividend payout ratio is presently 8.19%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total value of $577,513.05. Following the completion of the transaction, the insider now owns 31,182 shares in the company, valued at $19,552,673.10. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $614.97, for a total transaction of $373,901.76. Following the completion of the transaction, the chief operating officer now owns 6,838 shares of the company’s stock, valued at $4,205,164.86. This represents a 8.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,031 shares of company stock worth $73,954,565 over the last 90 days. Corporate insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on META shares. Truist Financial upped their price objective on Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Guggenheim upped their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a report on Thursday, May 1st. UBS Group upped their price objective on Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Loop Capital boosted their target price on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their target price on Meta Platforms from $675.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $710.00.

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.