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

Tectonic Advisors LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,434 shares of the social networking company’s stock after selling 150 shares during the quarter. Tectonic Advisors LLC’s holdings in Meta Platforms were worth $1,667,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in META. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $32,000. Clear Investment Research LLC increased its holdings in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Cranbrook Wealth Management LLC increased its stake in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter valued at approximately $39,000. Finally, Richardson Financial Services Inc. raised its stake in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.1 %

NASDAQ:META traded up $0.71 on Monday, reaching $499.58. 3,003,874 shares of the stock traded hands, compared to its average volume of 16,108,014. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.29 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company’s fifty day simple moving average is $492.56 and its 200 day simple moving average is $467.54.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities analysts predict that Meta Platforms, Inc. will post 20.21 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

Analysts Set New Price Targets

A number of research analysts have recently commented on META shares. Roth Mkm boosted their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Piper Sandler reiterated an “overweight” rating and issued a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $593.00 to $625.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Raymond James increased their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $515.64.

Insider Activity

In related news, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the transaction, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 transaction of $291,675.15. Following the completion of the sale, the insider now directly owns 37,813 shares in the company, valued at $18,853,183.67. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. Insiders have sold 294,278 shares of company stock worth $146,060,559 over the last ninety days. Corporate 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.