9258 Wealth Management LLC Has $1.58 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

9258 Wealth Management LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 18.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,253 shares of the social networking company’s stock after selling 740 shares during the quarter. 9258 Wealth Management LLC’s holdings in Meta Platforms were worth $1,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings 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 valued at $65,960,215,000 after acquiring 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 valued at $13,469,906,000 after acquiring 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 valued at $12,296,383,000 after acquiring an additional 1,083,719 shares in the last quarter. Norges Bank bought a new stake in Meta Platforms in the 4th quarter valued at 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 valued at $10,695,722,000 after acquiring an additional 4,440,229 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 16th. The stock was 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 $18,853,183.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was 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 in the company, valued at $18,853,183.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated 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 owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 294,278 shares of company stock worth $146,060,559. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Down 4.1 %

META stock opened at $512.70 on Friday. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. 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 stock’s 50 day moving average is $491.62 and its 200-day moving average is $464.99. The firm has a market capitalization of $1.30 trillion, a PE ratio of 29.45, a P/E/G ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Sell-side analysts expect that Meta Platforms, Inc. will post 20.19 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank of Canada cut their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Roth Mkm upped their price objective on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Citigroup dropped their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group dropped their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $515.64.

Meta Platforms Company 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.