Means Investment CO. Inc. Cuts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Means Investment CO. Inc. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 24.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,928 shares of the social networking company’s stock after selling 10,255 shares during the quarter. Meta Platforms accounts for 2.0% of Means Investment CO. Inc.’s portfolio, making the stock its 14th largest position. Means Investment CO. Inc.’s holdings in Meta Platforms were worth $18,402,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the fourth quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in Meta Platforms in the fourth quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC boosted its holdings in Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock worth $50,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares of the company’s stock, valued at $10,855,043.68. This trade represents a 23.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 2,753 shares of Meta Platforms stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $700.43, for a total transaction of $1,928,283.79. Following the completion of the transaction, the chief executive officer now directly owns 85,619 shares of the company’s stock, valued at $59,970,116.17. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,031 shares of company stock worth $73,954,565. Insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on META shares. Cantor Fitzgerald raised their target price on shares of Meta Platforms from $676.00 to $807.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. Susquehanna decreased their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company reiterated an “overweight” rating and issued a $664.00 price target on shares of Meta Platforms in a research report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. One investment 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 company’s stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $710.00.

Read Our Latest Report on Meta Platforms

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $682.35 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market cap of $1.72 trillion, a P/E ratio of 26.61, a P/E/G ratio of 1.68 and a beta of 1.26. The firm’s fifty day moving average is $618.10 and its two-hundred day moving average is $623.14. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for 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%. Meta Platforms’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.71 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

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.

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

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