Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Toth Financial Advisory Corp

Toth Financial Advisory Corp cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 52.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,147 shares of the social networking company’s stock after selling 1,290 shares during the quarter. Toth Financial Advisory Corp’s holdings in Meta Platforms were worth $557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of META. Hodges Capital Management Inc. acquired a new stake in shares of Meta Platforms in the 3rd quarter worth $2,116,000. SRS Capital Advisors Inc. increased its position in shares of Meta Platforms by 1.1% during the 3rd quarter. SRS Capital Advisors Inc. now owns 3,013 shares of the social networking company’s stock worth $905,000 after purchasing an additional 32 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of Meta Platforms by 103.4% during the 3rd quarter. Axxcess Wealth Management LLC now owns 28,286 shares of the social networking company’s stock worth $8,492,000 after purchasing an additional 14,381 shares during the last quarter. AXQ Capital LP increased its position in shares of Meta Platforms by 583.3% during the 3rd quarter. AXQ Capital LP now owns 8,200 shares of the social networking company’s stock worth $2,462,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Meta Platforms by 7.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,314,722 shares of the social networking company’s stock worth $2,496,450,000 after purchasing an additional 592,085 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Down 3.0 %

META opened at $504.22 on Friday. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. The business’s 50 day moving average is $480.00 and its two-hundred day moving average is $454.77. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released 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 business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, research analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus raised their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Robert W. Baird cut their price objective on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. KeyCorp raised their price objective on Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Wells Fargo & Company lowered their target price on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Finally, Loop Capital lowered their target price on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, three 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $510.05.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following 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 filing with the SEC, which is available at the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the sale, the chief financial officer now directly owns 74,580 shares in the company, valued at $35,190,573. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 233,512 shares of company stock valued at $113,597,536. Company insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.