Smith & Howard Wealth Management LLC Sells 31 Shares of Meta Platforms, Inc. (NASDAQ:META)

Smith & Howard Wealth Management LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 701 shares of the social networking company’s stock after selling 31 shares during the period. Smith & Howard Wealth Management LLC’s holdings in Meta Platforms were worth $404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fjell Capital LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $325,000. Daner Wealth Management LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $334,000. Brighton Jones LLC grew its stake in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in Meta Platforms during the fourth quarter worth approximately $112,406,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of several recent analyst reports. DA Davidson decreased their target price on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Guggenheim raised their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Oppenheimer raised their target price on Meta Platforms from $665.00 to $775.00 and gave the stock an “outperform” rating in a research note on Monday, June 16th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, Jefferies Financial Group decreased their target price on Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $715.76.

Read Our Latest Stock Analysis on Meta Platforms

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total value of $9,796,340.32. Following the completion of the transaction, the chief executive officer now directly owns 57,533 shares in the company, valued at approximately $40,862,237.92. The trade was a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $704.89, for a total value of $365,837.91. Following the completion of the transaction, the insider now owns 28,145 shares of the company’s stock, valued at approximately $19,839,129.05. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,831 shares of company stock valued at $83,868,872 over the last ninety days. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $726.09 on Friday. The business’s fifty day simple moving average is $633.87 and its 200 day simple moving average is $625.73. The firm has a market capitalization of $1.83 trillion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 1.74 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. 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 (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the business posted $4.71 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s dividend 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.

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

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