Meta Platforms, Inc. (NASDAQ:META) Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 62.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,326 shares of the social networking company’s stock after selling 15,490 shares during the period. FDx Advisors Inc.’s holdings in Meta Platforms were worth $4,528,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of META. Vanguard Group Inc. lifted its stake in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. Capital World Investors lifted its stake in Meta Platforms by 2.5% in the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares in the last quarter. Capital International Investors lifted its stake in Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares in the last quarter. Norges Bank purchased a new position in Meta Platforms in the 4th quarter worth approximately $11,285,855,000. Finally, Capital Research Global Investors lifted its stake in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 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 research analysts have weighed in on the stock. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Roth Mkm lifted their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Rosenblatt Securities lifted their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group reduced their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Guggenheim reduced their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued 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 has an average rating of “Moderate Buy” and an average price target of $515.64.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the company’s 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 sale, the insider now directly owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $291,675.15. Following the completion of the transaction, the insider now directly owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $530.75, for a total transaction of $8,864,586.50. Following the transaction, the chief executive officer now directly owns 169,372 shares of the company’s stock, valued at $89,894,189. The disclosure for this sale can be found here. Over the last three months, insiders sold 294,278 shares of company stock valued at $146,060,559. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $512.70 on Friday. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81. The stock has a market cap 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 company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a fifty day moving average price of $491.62 and a 200 day moving average price of $464.99.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $36.28 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.19 EPS for the current 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 issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms’s payout ratio is 11.49%.

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.