Retirement Guys Formula LLC Sells 90 Shares of Meta Platforms, Inc. (NASDAQ:META)

Retirement Guys Formula LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,090 shares of the social networking company’s stock after selling 90 shares during the period. Retirement Guys Formula LLC’s holdings in Meta Platforms were worth $1,781,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Valley Financial Group Inc. raised its position in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock valued at $344,000 after buying an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC raised its position in shares of Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock valued at $1,743,000 after buying an additional 14 shares in the last quarter. Maiden Cove Capital LLC raised its position in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after buying an additional 15 shares in the last quarter. Riverwater Partners LLC raised its position in shares of Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after buying an additional 15 shares in the last quarter. Finally, ABLE Financial Group LLC raised its position in shares of Meta Platforms by 0.7% during the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company’s stock valued at $1,251,000 after buying an additional 15 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on META. Moffett Nathanson raised their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Pivotal Research lowered their price objective 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. Citigroup lifted their target price on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America lifted their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. Finally, Rosenblatt Securities lifted their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One investment 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $715.76.

View Our Latest Analysis on META

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer now owns 1,183 shares of the company’s stock, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now directly owns 5,622 shares in the company, valued at $2,744,547.96. The trade was a 9.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,831 shares of company stock valued at $83,868,872 over the last quarter. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 2.5%

Shares of META opened at $726.09 on Friday. The firm’s 50-day moving average price is $633.87 and its 200-day moving average price is $625.73. The firm has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.74 and a beta of 1.26. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping 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 business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the firm posted $4.71 earnings per share. Meta Platforms’s quarterly revenue was up 16.1% on a year-over-year basis. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s payout ratio is currently 8.19%.

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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