Meta Platforms, Inc. (NASDAQ:META) Shares Sold by O Brien Wealth Partners LLC

O Brien Wealth Partners LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 11.0% in the first quarter, Holdings Channel.com reports. The firm owned 2,183 shares of the social networking company’s stock after selling 270 shares during the quarter. Meta Platforms makes up about 0.2% of O Brien Wealth Partners LLC’s holdings, making the stock its 20th largest position. O Brien Wealth Partners LLC’s holdings in Meta Platforms were worth $1,060,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Meta Platforms during the 1st quarter valued at approximately $44,000. Clear Investment Research LLC lifted its position 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 acquiring an additional 74 shares during the period. Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $39,000. Finally, Cranbrook Wealth Management LLC lifted its position 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 acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.1 %

Shares of Meta Platforms stock opened at $504.68 on Tuesday. The company has a fifty day moving average price of $480.46 and a 200 day moving average price of $456.83. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $36.28 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The disclosure for this sale can be found here. In the last three months, insiders sold 218,086 shares of company stock valued at $106,423,370. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and set a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. 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. TD Cowen dropped their price objective on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Roth Mkm raised their price objective on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $511.27.

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.