Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,472 shares of the social networking company’s stock after selling 72 shares during the quarter. Meta Platforms comprises 2.0% of Bouvel Investment Partners LLC’s portfolio, making the stock its 16th largest holding. Bouvel Investment Partners LLC’s holdings in Meta Platforms were worth $4,599,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Sherbrooke Park Advisers LLC bought a new position in shares of Meta Platforms in the third quarter valued at approximately $655,000. Schonfeld Strategic Advisors LLC boosted its stake in Meta Platforms by 156.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 401,290 shares of the social networking company’s stock valued at $120,471,000 after purchasing an additional 244,603 shares in the last quarter. Waverly Advisors LLC increased its position in shares of Meta Platforms by 55.2% during the 3rd quarter. Waverly Advisors LLC now owns 4,985 shares of the social networking company’s stock valued at $1,497,000 after purchasing an additional 1,772 shares during the period. Blackstone Inc. bought a new stake in shares of Meta Platforms in the 3rd quarter worth $30,021,000. Finally, Third Point LLC bought a new position in Meta Platforms during the third quarter valued at about $330,231,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $486.75, for a total value of $238,507.50. Following the sale, the chief operating officer now owns 8,559 shares in the company, valued at $4,166,093.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Javier Olivan sold 490 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $486.75, for a total value of $238,507.50. Following the completion of the sale, the chief operating officer now owns 8,559 shares in the company, valued at $4,166,093.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 31,465 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $491.49, for a total value of $15,464,732.85. The disclosure for this sale can be found here. Insiders sold a total of 233,512 shares of company stock worth $113,597,536 in the last 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Down 0.9 %

Shares of META stock opened at $514.84 on Friday. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The company has a market cap of $1.31 trillion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $479.53 and its two-hundred day moving average is $452.69.

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

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on META. Sanford C. Bernstein dropped their price target on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Guggenheim dropped their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Finally, Barclays cut their target price on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $510.05.

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.