Enzi Wealth Lowers Stake in Meta Platforms, Inc. (NASDAQ:META)

Enzi Wealth reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 9.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,048 shares of the social networking company’s stock after selling 113 shares during the period. Meta Platforms comprises approximately 0.2% of Enzi Wealth’s holdings, making the stock its 29th biggest holding. Enzi Wealth’s holdings in Meta Platforms were worth $524,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in META. Sherbrooke Park Advisers LLC purchased a new position in Meta Platforms in the third quarter valued at approximately $655,000. Waverly Advisors LLC lifted its holdings in shares of Meta Platforms by 55.2% during the 3rd quarter. Waverly Advisors LLC now owns 4,985 shares of the social networking company’s stock valued at $1,497,000 after acquiring an additional 1,772 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in shares of Meta Platforms in the third quarter worth about $2,116,000. Gallagher Fiduciary Advisors LLC grew its stake in shares of Meta Platforms by 24.3% in the third quarter. Gallagher Fiduciary Advisors LLC now owns 2,233 shares of the social networking company’s stock valued at $670,000 after buying an additional 436 shares in the last quarter. Finally, Gateway Advisory LLC raised its holdings in shares of Meta Platforms by 101.7% during the 3rd quarter. Gateway Advisory LLC now owns 2,088 shares of the social networking company’s stock valued at $627,000 after buying an additional 1,053 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $504.22 on Friday. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49. The stock’s fifty day moving average is $480.00 and its 200-day moving average is $453.93. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its earnings results 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. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Equities analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Insider Activity

In other news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $486.75, for a total value of $238,507.50. Following the completion of the sale, the chief operating officer now owns 8,559 shares in the company, valued at $4,166,093.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction on Monday, April 1st. The stock was sold at an average price of $486.75, for a total value of $238,507.50. Following the completion of the transaction, the chief operating officer now owns 8,559 shares in the company, valued at $4,166,093.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 233,512 shares of company stock worth $113,597,536. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

META has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. JPMorgan Chase & Co. dropped their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Truist Financial cut their price objective on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Raymond James lifted their target price on Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, June 5th. Finally, Robert W. Baird reduced their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $510.05.

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.