Founders Financial Securities LLC Sells 1,071 Shares of Meta Platforms, Inc. (NASDAQ:META)

Founders Financial Securities LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,355 shares of the social networking company’s stock after selling 1,071 shares during the period. Founders Financial Securities LLC’s holdings in Meta Platforms were worth $3,572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. Beaird Harris Wealth Management LLC raised its position in shares of 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 during the last quarter. Quest Partners LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC raised its position in shares of Meta Platforms by 411.1% during the fourth 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 last quarter. Cranbrook Wealth Management LLC raised its position in shares of Meta Platforms by 80.4% during the fourth 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 last quarter. Finally, Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $39,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $504.22 on Monday. The company has a market capitalization of $1.28 trillion, a PE ratio of 28.96, a P/E/G ratio of 1.31 and a beta of 1.21. 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 company has a 50-day simple moving average of $480.00 and a two-hundred day simple moving average of $455.62. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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 firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Research analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued 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 0.40%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the transaction, the insider now owns 38,983 shares in the company, valued at $18,906,755. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total value of $283,725.00. Following the completion of the sale, the insider now owns 38,983 shares in the company, valued at approximately $18,906,755. The disclosure for this sale can be found here. Insiders have sold a total of 201,557 shares of company stock worth $97,894,296 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

META has been the subject of a number of recent research reports. Wolfe Research cut their target price on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and issued a $545.00 target price (down from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a report on Monday, April 22nd. Wells Fargo & Company cut their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Finally, Barclays dropped their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Two 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $510.05.

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.