Skyline Advisors Inc. Trims Stake in Meta Platforms, Inc. (NASDAQ:META)

Skyline Advisors Inc. lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 743 shares of the social networking company’s stock after selling 22 shares during the quarter. Skyline Advisors Inc.’s holdings in Meta Platforms were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Meta Platforms in the 1st quarter worth $44,000. Clear Investment Research LLC raised its holdings in 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 acquiring an additional 74 shares during the period. Gilfoyle & Co LLC purchased a new position in shares of Meta Platforms in the fourth quarter valued at about $39,000. Finally, Cranbrook Wealth Management LLC boosted its stake in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $504.68 on Tuesday. The company has a market cap of $1.28 trillion, a PE ratio of 28.99, a P/E/G ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. 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 firm’s 50 day moving average price is $480.46 and its 200-day moving average price is $456.83.

Meta Platforms (NASDAQ:META) last announced its quarterly 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 the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Insider Activity

In related news, CFO Susan J. Li sold 8,951 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the sale, the chief financial officer now directly owns 74,580 shares in the company, valued at $35,190,573. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 218,086 shares of company stock worth $106,423,370. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on META. Roth Mkm boosted their price target on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Wolfe Research lowered their target price on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Oppenheimer cut their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Robert W. Baird decreased their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Raymond James lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $511.27.

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.