Panoramic Investment Advisors LLC Sells 100 Shares of Meta Platforms, Inc. (NASDAQ:META)

Panoramic Investment Advisors LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,480 shares of the social networking company’s stock after selling 100 shares during the quarter. Panoramic Investment Advisors LLC’s holdings in Meta Platforms were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Kennedy Capital Management LLC increased its position in shares of Meta Platforms by 18.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 13,847 shares of the social networking company’s stock valued at $4,157,000 after purchasing an additional 2,189 shares during the last quarter. KADENSA CAPITAL Ltd purchased a new position in Meta Platforms during the 3rd quarter valued at $9,548,000. Jericho Capital Asset Management L.P. boosted its holdings in Meta Platforms by 88.4% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,084,963 shares of the social networking company’s stock valued at $325,717,000 after acquiring an additional 509,000 shares during the period. Jackson Wealth Management LLC purchased a new position in Meta Platforms during the 3rd quarter valued at $201,000. Finally, JT Stratford LLC boosted its holdings in Meta Platforms by 22.0% during the 3rd quarter. JT Stratford LLC now owns 12,876 shares of the social networking company’s stock valued at $3,866,000 after acquiring an additional 2,318 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on 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 $7,268,235.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 value 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. Insiders have sold a total of 218,086 shares of company stock worth $106,423,370 over the last quarter. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $509.50 on Wednesday. The company has a market capitalization of $1.29 trillion, a P/E ratio of 29.26, a P/E/G ratio of 1.31 and a beta of 1.21. The business’s 50 day moving average is $480.72 and its two-hundred day moving average is $458.05. 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 12-month low of $274.38 and a 12-month high of $531.49.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate 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%. Analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on META. Loop Capital dropped their price objective on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Robert W. Baird dropped their price objective on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Roth Mkm boosted their price objective on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Truist Financial lowered their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Guggenheim lowered their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $511.27.

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.