Annapolis Financial Services LLC Has $1.18 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Annapolis Financial Services LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 28.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,421 shares of the social networking company’s stock after selling 953 shares during the period. Annapolis Financial Services LLC’s holdings in Meta Platforms were worth $1,176,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Quest Partners LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms during the 1st quarter worth approximately $44,000. Clear Investment Research LLC grew 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. Gilfoyle & Co LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $39,000. Finally, Cranbrook Wealth Management LLC grew its stake 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 worth $36,000 after acquiring an additional 45 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total value of $8,532,717.76. Following the completion of the transaction, 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 can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total value of $8,532,717.76. Following the transaction, the chief executive officer now owns 230,461 shares in the company, valued at $117,737,915.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms 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 in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders sold a total of 201,557 shares of company stock valued at $97,894,296 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Down 3.0 %

META stock opened at $504.22 on Monday. The company has a market cap of $1.28 trillion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. The business has a 50-day simple moving average of $480.00 and a 200 day simple moving average of $455.62. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. 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 posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. 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 dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analyst Weigh In

META has been the subject of several research reports. Citigroup decreased their price target on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company decreased their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Royal Bank of Canada decreased their target price on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a research note on Monday, April 22nd. Finally, Stifel Nicolaus raised their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $510.05.

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.