Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Westside Investment Management Inc.

Westside Investment Management Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 9.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,064 shares of the social networking company’s stock after selling 1,533 shares during the period. Meta Platforms comprises approximately 1.6% of Westside Investment Management Inc.’s holdings, making the stock its 11th largest holding. Westside Investment Management Inc.’s holdings in Meta Platforms were worth $6,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Beaird Harris Wealth Management LLC boosted its stake 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 buying an additional 42 shares in the last quarter. Quest Partners LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $32,000. Clear Investment Research LLC lifted its stake in 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 in the last quarter. Cranbrook Wealth Management LLC lifted its stake in 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 in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $39,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial dropped their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. BNP Paribas initiated coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price on the stock. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Monday. The Goldman Sachs Group lowered their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Meta Platforms Stock Performance

META stock opened at $509.96 on Friday. The stock has a 50-day moving average price of $482.42 and a 200-day moving average price of $458.78. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. 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 $1.29 trillion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities research analysts expect that Meta Platforms, Inc. will post 20.15 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. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total transaction of $8,502,988.20. Following the completion of the transaction, the chief executive officer now owns 186,826 shares in the company, valued at approximately $95,113,116.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85. Following the sale, the insider now owns 37,845 shares of the company’s stock, valued at approximately $18,944,071.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total transaction of $8,502,988.20. Following the completion of the transaction, the chief executive officer now directly owns 186,826 shares in the company, valued at approximately $95,113,116.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,905 shares of company stock worth $123,528,726. Insiders own 13.71% of the company’s stock.

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.