Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Integrity Wealth Solutions LLC

Integrity Wealth Solutions LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,967 shares of the social networking company’s stock after selling 57 shares during the quarter. Integrity Wealth Solutions LLC’s holdings in Meta Platforms were worth $955,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Baird Financial Group Inc. grew its holdings in shares of Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares during the last quarter. Donoghue Forlines LLC grew its holdings in shares of Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after buying an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP grew its holdings in shares of Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after buying an additional 140,000 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on META. Rosenblatt Securities lifted their price target on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Wedbush lowered their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Barclays lowered their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Raymond James lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research report on Monday. Finally, KeyCorp lifted their price objective on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Meta Platforms Trading Up 0.1 %

Shares of META opened at $509.96 on Thursday. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-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 firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 1.31 and a beta of 1.21. The stock’s 50-day moving average price is $481.05 and its 200 day moving average price is $458.42.

Meta Platforms (NASDAQ:META) last issued its quarterly 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 for the quarter, compared to analyst estimates of $36.28 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Activity

In other news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Javier Olivan sold 412 shares of the business’s 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 transaction, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 252,395 shares of company stock worth $123,781,816. Company insiders own 13.71% of the company’s stock.

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.