Silverlake Wealth Management LLC Sells 996 Shares of Meta Platforms, Inc. (NASDAQ:META)

Silverlake Wealth Management LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 34.1% during the first quarter, Holdings Channel reports. The firm owned 1,928 shares of the social networking company’s stock after selling 996 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Meta Platforms were worth $936,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Beaird Harris Wealth Management LLC boosted its holdings in shares of Meta Platforms by 68.9% during the 3rd 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 acquired a new stake in Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC grew its position in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.1 %

NASDAQ:META opened at $509.96 on Thursday. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. 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 firm’s fifty day moving average is $481.05 and its 200-day moving average is $458.42. The firm has a market cap of $1.29 trillion, a P/E ratio of 29.29, a P/E/G ratio of 1.31 and a beta of 1.21.

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

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.39%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $516.51, for a total transaction of $253,089.90. Following the transaction, the chief operating officer now owns 8,069 shares in the company, valued at $4,167,719.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $516.51, for a total transaction of $253,089.90. Following the completion of the sale, the chief operating officer now directly owns 8,069 shares of the company’s stock, valued at approximately $4,167,719.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total transaction of $291,675.15. Following the transaction, the insider now owns 37,813 shares in the company, valued at $18,853,183.67. The disclosure for this sale can be found here. Over the last three months, insiders sold 252,395 shares of company stock worth $123,781,816. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on META shares. Piper Sandler reaffirmed an “overweight” rating and issued a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Guggenheim cut their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Citigroup lowered their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, TD Cowen dropped their price target on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $511.27.

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.