Horizon Wealth Management LLC Lowers Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Horizon Wealth Management LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 31.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,680 shares of the social networking company’s stock after selling 769 shares during the period. Horizon Wealth Management LLC’s holdings in Meta Platforms were worth $816,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Beaird Harris Wealth Management LLC boosted 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 buying an additional 42 shares during the period. Quest Partners LLC purchased a new position in shares of Meta Platforms during the fourth quarter worth $32,000. Clear Investment Research LLC boosted its position in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the period. Cranbrook Wealth Management LLC boosted its position in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the period. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter valued at $39,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

META has been the subject of a number of recent research reports. Truist Financial decreased their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Citigroup decreased their target price on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company decreased 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. Barclays decreased their target price on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, KeyCorp lifted their target price on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.

Meta Platforms Stock Performance

NASDAQ META opened at $504.68 on Tuesday. 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, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The business’s 50-day moving average price is $480.46 and its 200 day moving average price is $456.83. The firm has a market cap of $1.28 trillion, a P/E ratio of 28.99, a P/E/G ratio of 1.31 and a beta of 1.21.

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

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. 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 dividend payout ratio is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total transaction of $291,675.15. Following the sale, the insider now owns 37,813 shares of the company’s stock, valued at approximately $18,853,183.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,086 shares of company stock valued at $106,423,370. 13.71% of the stock is owned by corporate insiders.

Meta Platforms 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.