Envestnet Portfolio Solutions Inc. Sells 20,189 Shares of Meta Platforms, Inc. (NASDAQ:META)

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 133,553 shares of the social networking company’s stock after selling 20,189 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Meta Platforms were worth $76,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valley Financial Group Inc. lifted its stake in shares of Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock valued at $344,000 after purchasing an additional 14 shares during the period. Lantern Wealth Advisors LLC raised its holdings in Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after purchasing an additional 14 shares in the last quarter. Meredith Wealth Planning lifted its position in Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after buying an additional 15 shares during the period. Maiden Cove Capital LLC boosted its holdings in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after buying an additional 15 shares in the last quarter. Finally, Riverwater Partners LLC boosted its holdings in shares of Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after buying an additional 15 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $682.35 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.72 trillion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26. The firm’s 50 day moving average price is $618.10 and its 200-day moving average price is $623.08. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same period in the prior year, the company earned $4.71 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 8,312 shares of Meta Platforms stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $702.13, for a total transaction of $5,836,104.56. Following the transaction, the chief executive officer now directly owns 88,372 shares of the company’s stock, valued at $62,048,632.36. The trade was a 8.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the sale, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at $2,744,547.96. This represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,031 shares of company stock valued at $73,954,565. 13.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on META. Susquehanna decreased their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Scotiabank cut their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a report on Monday, April 21st. Pivotal Research lowered their target price on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Monness Crespi & Hardt boosted their price target on Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $710.00.

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.