Meta Platforms, Inc. (NASDAQ:META) Stock Position Decreased by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,787 shares of the social networking company’s stock after selling 5,966 shares during the period. Meta Platforms comprises about 2.4% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 16th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in Meta Platforms were worth $20,291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in META. Baird Financial Group Inc. grew its holdings in shares of Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after buying an additional 163,067 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after purchasing an additional 51,900 shares during the period. Donoghue Forlines LLC increased its stake in shares of Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after acquiring an additional 4,054 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Meta Platforms by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares during the last quarter. Finally, Voyager Global Management LP increased its stake in shares of Meta Platforms by 37.3% during the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after purchasing an additional 140,000 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

META has been the subject of several research analyst reports. Truist Financial cut their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Rosenblatt Securities raised their target price on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Guggenheim decreased their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wedbush dropped their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Citigroup reduced their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $510.05.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 31,465 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $491.49, for a total value of $15,464,732.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Mark Zuckerberg sold 31,465 shares of the company’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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $502.00, for a total transaction of $206,824.00. Following the completion of the transaction, the chief operating officer now directly owns 7,619 shares of the company’s stock, valued at approximately $3,824,738. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,607 shares of company stock worth $113,147,760. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

NASDAQ:META opened at $513.12 on Thursday. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The firm’s fifty day simple moving average is $479.18 and its 200 day simple moving average is $452.22. 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 capitalization of $1.30 trillion, a PE ratio of 29.47, a PEG ratio of 1.33 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released 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. The company had revenue of $36.46 billion during 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, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

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

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.