Hexagon Capital Partners LLC Sells 10,815 Shares of Meta Platforms, Inc. (NASDAQ:META)

Hexagon Capital Partners LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 17.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,748 shares of the social networking company’s stock after selling 10,815 shares during the period. Meta Platforms makes up approximately 5.5% of Hexagon Capital Partners LLC’s investment portfolio, making the stock its 3rd largest position. Hexagon Capital Partners LLC’s holdings in Meta Platforms were worth $24,642,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of META. S.A. Mason LLC raised its holdings in Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after buying an additional 20 shares during the last quarter. LongView Wealth Management raised its holdings in Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after buying an additional 22 shares during the last quarter. Madison Wealth Partners Inc raised its holdings in Meta Platforms by 1.6% in the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after buying an additional 23 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. raised its holdings in Meta Platforms by 1.9% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock worth $648,000 after purchasing an additional 23 shares during the last quarter. Finally, Monterey Private Wealth Inc. raised its holdings in Meta Platforms by 1.8% during the 1st quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock worth $670,000 after purchasing an additional 24 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. Stifel Nicolaus raised their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Monday. Wedbush lowered their price target 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. Sanford C. Bernstein lowered their price target on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Robert W. Baird lowered their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two equities research 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $511.27.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the sale, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold a total of 218,086 shares of company stock valued at $106,423,370 over the last three months. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $509.50 on Wednesday. The company’s 50-day moving average is $480.72 and its 200 day moving average is $458.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market capitalization of $1.29 trillion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly 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 company 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 research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

About Meta Platforms

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.