Gold Investment Management Ltd. Sells 52 Shares of Meta Platforms, Inc. (NASDAQ:META)

Gold Investment Management Ltd. lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 848 shares of the social networking company’s stock after selling 52 shares during the period. Gold Investment Management Ltd.’s holdings in Meta Platforms were worth $412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of META. Modera Wealth Management LLC raised its position in shares of Meta Platforms by 8.5% in the third quarter. Modera Wealth Management LLC now owns 7,775 shares of the social networking company’s stock valued at $2,334,000 after purchasing an additional 607 shares during the period. Raleigh Capital Management Inc. increased its holdings in Meta Platforms by 180.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 902 shares of the social networking company’s stock worth $271,000 after acquiring an additional 580 shares during the period. Trust Co. of Toledo NA OH increased its holdings in Meta Platforms by 9.2% during the 4th quarter. Trust Co. of Toledo NA OH now owns 6,174 shares of the social networking company’s stock worth $2,185,000 after acquiring an additional 518 shares during the period. FCF Advisors LLC bought a new stake in Meta Platforms during the 4th quarter worth approximately $4,105,000. Finally, Modus Advisors LLC increased its holdings in Meta Platforms by 9.9% during the 4th quarter. Modus Advisors LLC now owns 2,423 shares of the social networking company’s stock worth $858,000 after acquiring an additional 218 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Sanford C. Bernstein decreased their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Monday, July 1st. Guggenheim decreased their target price on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Roth Mkm boosted their price target 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. Finally, UBS Group cut their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $515.64.

Meta Platforms Stock Down 4.1 %

Shares of NASDAQ META opened at $512.70 on Friday. 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 $542.81. The firm has a market capitalization of $1.30 trillion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The firm has a fifty day simple moving average of $491.62 and a two-hundred day simple moving average of $464.99.

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, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion during 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%. Equities analysts expect that Meta Platforms, Inc. will post 20.19 earnings per share for the current 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 paid 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 payout ratio is 11.49%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total value of $291,675.15. Following the completion of the transaction, the insider now directly owns 37,813 shares in the company, valued at approximately $18,853,183.67. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15. Following the sale, the insider now owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The disclosure for this sale can be found here. Insiders sold a total of 294,278 shares of company stock worth $146,060,559 in the last three months. 13.71% of the stock is owned by corporate 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.