Triangle Securities Wealth Management Sells 487 Shares of Meta Platforms, Inc. (NASDAQ:META)

Triangle Securities Wealth Management reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 8.4% during the 1st quarter, Holdings Channel reports. The fund owned 5,312 shares of the social networking company’s stock after selling 487 shares during the quarter. Triangle Securities Wealth Management’s holdings in Meta Platforms were worth $2,579,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Stone House Investment Management LLC increased its position in Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC increased its holdings in shares of 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 in the last quarter. Gilfoyle & Co LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $39,000. Finally, Cranbrook Wealth Management LLC raised its position in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $503.34, for a total transaction of $8,406,784.68. Following the sale, the chief executive officer now owns 275,297 shares in the company, valued at approximately $138,567,991.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders have sold a total of 313,169 shares of company stock worth $153,344,736 over the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 1.4 %

NASDAQ META opened at $494.78 on Friday. The stock has a 50 day moving average of $478.61 and a 200-day moving average of $447.50. The company has a market cap of $1.26 trillion, a PE ratio of 28.42, a PEG ratio of 1.30 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on META shares. KeyCorp raised their price target on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a report on Monday, April 22nd. UBS Group reduced their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Roth Mkm upped their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $510.05.

About Meta Platforms

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.