Private Wealth Partners LLC Sells 4,906 Shares of Meta Platforms, Inc. $META

Private Wealth Partners LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 54.1% during the first quarter, HoldingsChannel reports. The firm owned 4,167 shares of the social networking company’s stock after selling 4,906 shares during the period. Private Wealth Partners LLC’s holdings in Meta Platforms were worth $2,384,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Keybank National Association OH lifted its position in shares of Meta Platforms by 15.7% during the fourth quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock valued at $88,319,000 after buying an additional 18,169 shares during the last quarter. WMS Group LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $876,000. Diversified Trust Co. grew its position in shares of Meta Platforms by 4.1% in the 4th quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock worth $55,487,000 after buying an additional 3,336 shares during the last quarter. Consolidated Investment Group LLC raised its stake in shares of Meta Platforms by 61.2% during the 4th quarter. Consolidated Investment Group LLC now owns 7,900 shares of the social networking company’s stock worth $5,215,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Meta Platforms by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after acquiring an additional 7,269,279 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $631.48 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The company’s fifty day moving average price is $598.10 and its 200-day moving average price is $626.80. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The firm has a market capitalization of $1.60 trillion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same quarter last year, the business posted $6.43 EPS. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. On average, equities research analysts predict that Meta Platforms, Inc. will post 29.46 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, June 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 7.63%.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer owned 414 shares in the company, valued at approximately $251,641.62. This represents a 94.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Susan J. Li sold 9,195 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the transaction, the chief financial officer directly owned 13,186 shares of the company’s stock, valued at $8,014,978.24. This represents a 41.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 44,748 shares of company stock valued at $27,565,292. 13.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Truist Financial lowered their target price on shares of Meta Platforms from $900.00 to $840.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. UBS Group downgraded Meta Platforms from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Arete Research set a $735.00 price objective on Meta Platforms and gave the company a “buy” rating in a report on Tuesday, June 2nd. KeyCorp restated an “overweight” rating and set a $760.00 target price on shares of Meta Platforms in a research note on Thursday, April 30th. Finally, Benchmark started coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $840.64.

View Our Latest Analysis on META

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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