Waterway Wealth Management LLC Sells 294 Shares of Meta Platforms, Inc. (NASDAQ:META)

Waterway Wealth Management LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 22.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,029 shares of the social networking company’s stock after selling 294 shares during the quarter. Waterway Wealth Management LLC’s holdings in Meta Platforms were worth $500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of META. Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares during the last quarter. Capital World Investors lifted its holdings in shares of Meta Platforms by 2.5% in the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after acquiring an additional 927,491 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after acquiring an additional 1,184,978 shares during the last quarter. Capital International Investors lifted its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after acquiring an additional 1,083,719 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Meta Platforms in the fourth quarter worth about $11,285,855,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 3.0 %

Shares of Meta Platforms stock opened at $504.22 on Monday. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The firm has a market cap 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 stock has a fifty day moving average price of $480.00 and a 200-day moving average price of $455.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its earnings results 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 return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on META shares. UBS Group dropped their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. BNP Paribas assumed coverage on Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price objective for the company. Rosenblatt Securities upped their price objective on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Oppenheimer lowered their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, TD Cowen lowered their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $510.05.

Insider Buying and Selling

In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the transaction, the chief executive officer now owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,557 shares of company stock valued at $97,894,296. 13.71% of the stock is owned by insiders.

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.