Romano Brothers AND Company cut its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,997 shares of the social networking company’s stock after selling 128 shares during the quarter. Romano Brothers AND Company’s holdings in Meta Platforms were worth $1,455,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC lifted its position in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. Quest Partners LLC bought a new stake in Meta Platforms during the fourth quarter valued at about $32,000. Clear Investment Research LLC raised its stake in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Cranbrook Wealth Management LLC lifted its holdings in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC acquired a new stake in Meta Platforms in the fourth quarter worth about $39,000. 79.91% of the stock is owned by institutional investors.
Meta Platforms Stock Down 3.0 %
NASDAQ META opened at $504.22 on Friday. The firm has a 50-day simple moving average of $480.00 and a 200 day simple moving average of $454.77. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The stock has a market cap of $1.28 trillion, a PE ratio of 28.96, a PEG ratio of 1.31 and a beta of 1.21.
Meta Platforms Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. Meta Platforms’s payout ratio is presently 11.49%.
Wall Street Analysts Forecast Growth
META has been the topic of several research reports. Wells Fargo & Company cut their price target on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Canaccord Genuity Group dropped their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. TD Cowen decreased their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Raymond James boosted their target price on Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $510.05.
View Our Latest Stock Analysis on META
Insider Transactions at Meta Platforms
In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the sale, the chief executive officer now owns 230,461 shares of the company’s stock, valued at $117,737,915.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the transaction, the chief executive officer now owns 230,461 shares of the company’s stock, valued at $117,737,915.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly 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 worth $113,597,536 in the last three months. 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.
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