Meta Platforms, Inc. (NASDAQ:META) is Mirador Capital Partners LP’s 10th Largest Position

Mirador Capital Partners LP decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,550 shares of the social networking company’s stock after selling 156 shares during the period. Meta Platforms comprises approximately 2.2% of Mirador Capital Partners LP’s holdings, making the stock its 10th largest holding. Mirador Capital Partners LP’s holdings in Meta Platforms were worth $11,436,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Chapin Davis Inc. raised its stake in shares of Meta Platforms by 23.7% during the first quarter. Chapin Davis Inc. now owns 10,918 shares of the social networking company’s stock valued at $5,302,000 after acquiring an additional 2,091 shares in the last quarter. Pettinga Financial Advisors LLC bought a new stake in shares of Meta Platforms during the first quarter valued at approximately $249,000. MorganRosel Wealth Management LLC bought a new stake in shares of Meta Platforms during the first quarter valued at approximately $234,000. LVW Advisors LLC raised its stake in shares of Meta Platforms by 13.2% during the first quarter. LVW Advisors LLC now owns 7,164 shares of the social networking company’s stock valued at $3,479,000 after acquiring an additional 834 shares in the last quarter. Finally, Roberts Wealth Advisors LLC bought a new stake in shares of Meta Platforms during the first quarter valued at approximately $308,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the sale, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the sale, the director now owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,086 shares of company stock worth $106,423,370. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.1 %

META opened at $504.68 on Tuesday. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $480.46 and a 200 day moving average price of $456.83. The company has a market cap of $1.28 trillion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $36.28 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analyst Weigh In

META has been the subject of a number of recent research reports. Oppenheimer reduced their price objective 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. KeyCorp boosted their price objective on shares of Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Royal Bank of Canada reduced their price objective on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company reduced their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. reduced their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus 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.