Elevated Capital Advisors LLC Cuts Stake in Meta Platforms, Inc. (NASDAQ:META)

Elevated Capital Advisors LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 572 shares of the social networking company’s stock after selling 38 shares during the period. Elevated Capital Advisors LLC’s holdings in Meta Platforms were worth $278,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. raised its stake in shares of Meta Platforms by 0.8% in the first quarter. Sunbelt Securities Inc. now owns 9,646 shares of the social networking company’s stock valued at $4,684,000 after acquiring an additional 74 shares in the last quarter. Atlas Capital Advisors LLC raised its position in Meta Platforms by 5.8% in the 1st quarter. Atlas Capital Advisors LLC now owns 5,598 shares of the social networking company’s stock valued at $2,718,000 after purchasing an additional 305 shares in the last quarter. Eagle Wealth Strategies LLC purchased a new position in shares of Meta Platforms in the 1st quarter valued at about $319,000. Constitution Capital LLC acquired a new position in shares of Meta Platforms during the first quarter worth about $578,000. Finally, CIC Wealth LLC increased its stake in shares of Meta Platforms by 54.8% during the first quarter. CIC Wealth LLC now owns 3,472 shares of the social networking company’s stock worth $1,686,000 after buying an additional 1,229 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.3 %

Shares of Meta Platforms stock opened at $519.56 on Friday. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The business has a 50 day moving average price of $479.53 and a 200 day moving average price of $452.69. The company has a market capitalization of $1.32 trillion, a P/E ratio of 29.84, a P/E/G ratio of 1.33 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on META shares. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Roth Mkm boosted their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. BNP Paribas assumed coverage on Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price target on the stock. Truist Financial decreased their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, KeyCorp increased their price objective on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $510.05.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the transaction, the chief technology officer now owns 15,412 shares in the company, valued at $7,272,152.20. The disclosure for this sale can be found here. Insiders have sold 233,512 shares of company stock valued at $113,597,536 in the last ninety days. Insiders own 13.71% of the company’s stock.

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.