Deltec Asset Management LLC Sells 2,284 Shares of Meta Platforms, Inc. (NASDAQ:META)

Deltec Asset Management LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,827 shares of the social networking company’s stock after selling 2,284 shares during the quarter. Meta Platforms accounts for about 2.8% of Deltec Asset Management LLC’s holdings, making the stock its 8th biggest position. Deltec Asset Management LLC’s holdings in Meta Platforms were worth $13,998,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Norges Bank bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $11,285,855,000. International Assets Investment Management LLC lifted its stake in Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares in the last quarter. Capital Research Global Investors boosted its holdings in Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management grew its stake in shares of Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of several analyst reports. Guggenheim cut their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Sanford C. Bernstein cut their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company dropped their price objective 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. KeyCorp increased their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, BNP Paribas initiated coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target on the stock. Two 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.05.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the transaction, the insider now owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,557 shares of company stock valued at $97,894,296. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

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

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given 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 was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

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.