Meta Platforms, Inc. (NASDAQ:META) Stock Position Cut by Consolidated Capital Management LLC

Consolidated Capital Management LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 20.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,627 shares of the social networking company’s stock after selling 6,413 shares during the period. Meta Platforms makes up about 5.9% of Consolidated Capital Management LLC’s portfolio, making the stock its 6th biggest holding. Consolidated Capital Management LLC’s holdings in Meta Platforms were worth $12,418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tennessee Valley Asset Management Partners raised its holdings in shares of Meta Platforms by 0.6% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after acquiring an additional 27 shares during the period. NewEdge Wealth LLC lifted its holdings in shares of Meta Platforms by 20.0% in the 4th quarter. NewEdge Wealth LLC now owns 158,414 shares of the social networking company’s stock valued at $56,072,000 after purchasing an additional 26,416 shares during the last quarter. Seascape Capital Management grew its position in Meta Platforms by 36.2% during the 4th quarter. Seascape Capital Management now owns 985 shares of the social networking company’s stock worth $349,000 after purchasing an additional 262 shares during the last quarter. ORG Partners LLC grew its stake in shares of Meta Platforms by 22.9% in the 4th quarter. ORG Partners LLC now owns 2,143 shares of the social networking company’s stock valued at $759,000 after purchasing an additional 400 shares during the last quarter. Finally, Ingalls & Snyder LLC increased its stake in shares of Meta Platforms by 1.8% during the fourth quarter. Ingalls & Snyder LLC now owns 48,694 shares of the social networking company’s stock worth $17,236,000 after acquiring an additional 868 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total transaction of $423,150.85. Following the sale, the insider now owns 43,275 shares of the company’s stock, valued at $20,234,091.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of the company’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 sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Insiders have sold 315,770 shares of company stock worth $157,719,910 over the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Down 0.0 %

NASDAQ META traded down $0.22 on Wednesday, reaching $528.32. The company had a trading volume of 5,451,324 shares, compared to its average volume of 16,356,310. The firm has a 50-day moving average of $498.29 and a 200-day moving average of $485.68. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The firm has a market capitalization of $1.34 trillion, a PE ratio of 30.35, a P/E/G ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.23 earnings per share. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Ratings Changes

Several brokerages have commented on META. Truist Financial boosted their target price on shares of Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their target price on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays boosted their price target on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wolfe Research started coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective for the company. Finally, Morgan Stanley boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $572.51.

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.