Clarity Wealth Advisors LLC Sells 147 Shares of Meta Platforms, Inc. (NASDAQ:META)

Clarity Wealth Advisors LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the 1st quarter, HoldingsChannel reports. The firm owned 11,542 shares of the social networking company’s stock after selling 147 shares during the period. Meta Platforms makes up 1.9% of Clarity Wealth Advisors LLC’s portfolio, making the stock its 16th biggest position. Clarity Wealth Advisors LLC’s holdings in Meta Platforms were worth $5,605,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of META. Beaird Harris Wealth Management LLC lifted its position in 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 valued at $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 approximately $32,000. Clear Investment Research LLC lifted its holdings in shares of Meta Platforms by 411.1% in 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 during the last quarter. Cranbrook Wealth Management LLC lifted its holdings in shares of Meta Platforms by 80.4% in 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 during the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $39,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Down 3.0 %

NASDAQ:META opened at $504.22 on Monday. The firm’s 50-day moving average price is $480.00 and its 200-day moving average price is $455.62. The company has a market capitalization of $1.28 trillion, a PE ratio of 28.96, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49.

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

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given 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 dividend payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on META shares. Truist Financial lowered their price objective on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Citigroup lowered their price objective on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 25th. BNP Paribas started coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price objective for the company. Oppenheimer lowered their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Wedbush lowered their price objective on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $510.05.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the transaction, the insider now owns 38,750 shares in the company, valued at approximately $19,258,362.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the transaction, the insider now owns 38,750 shares in the company, valued at approximately $19,258,362.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Insiders have sold 201,557 shares of company stock valued at $97,894,296 in the last three months. 13.71% of the stock is currently owned by company insiders.

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.