Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,697 shares of the social networking company’s stock after selling 37 shares during the period. Meta Platforms makes up approximately 1.3% of Carret Asset Management LLC’s holdings, making the stock its 14th biggest position. Carret Asset Management LLC’s holdings in Meta Platforms were worth $11,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC raised its holdings in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC raised its holdings in shares of 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. Cranbrook Wealth Management LLC raised its holdings in shares of Meta Platforms by 80.4% during the fourth 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. Finally, Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $39,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.1 %

META opened at $509.96 on Thursday. The stock has a market capitalization of $1.29 trillion, a PE ratio of 29.29, a PEG ratio of 1.32 and a beta of 1.21. 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 1-year low of $274.38 and a 1-year high of $531.49. The firm has a 50-day moving average price of $481.05 and a two-hundred day moving average price of $458.42.

Meta Platforms (NASDAQ:META) last issued its 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. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

META has been the topic of several research reports. Barclays dropped their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Wolfe Research dropped their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Robert W. Baird dropped their price objective 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, Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Two equities 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 stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 252,395 shares of company stock valued at $123,781,816. 13.71% of the stock is currently owned by insiders.

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.