Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Hemington Wealth Management

Hemington Wealth Management reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607 shares of the social networking company’s stock after selling 186 shares during the period. Hemington Wealth Management’s holdings in Meta Platforms were worth $781,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $32,000. Clear Investment Research LLC raised its holdings in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Cranbrook Wealth Management LLC raised its holdings in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Gilfoyle & Co LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $39,000. Finally, Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the topic of several analyst reports. Roth Mkm lifted their price objective on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Citigroup dropped their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus lifted their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Canaccord Genuity Group dropped their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Jefferies Financial Group dropped their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $515.64.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction 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 directly owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total value of $291,675.15. Following the transaction, the insider now directly owns 37,813 shares in the company, valued at $18,853,183.67. The disclosure for this sale can be found here. Insiders have sold 294,278 shares of company stock valued at $146,060,559 over the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META traded down $14.69 during midday trading on Friday, reaching $498.01. The stock had a trading volume of 2,943,082 shares, compared to its average volume of 16,080,170. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm’s 50 day moving average price is $491.62 and its 200-day moving average price is $464.99. The company has a market capitalization of $1.26 trillion, a P/E ratio of 29.45, a P/E/G ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping 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 the consensus estimate of $36.28 billion. On average, analysts forecast that Meta Platforms, Inc. will post 20.19 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.