Comprehensive Financial Consultants Institutional Inc. Sells 111 Shares of Meta Platforms, Inc. (NASDAQ:META)

Comprehensive Financial Consultants Institutional Inc. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,416 shares of the social networking company’s stock after selling 111 shares during the quarter. Meta Platforms makes up 1.3% of Comprehensive Financial Consultants Institutional Inc.’s holdings, making the stock its 26th largest holding. Comprehensive Financial Consultants Institutional Inc.’s holdings in Meta Platforms were worth $3,115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC purchased a new stake in Meta Platforms in the fourth quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Meta Platforms in the first quarter valued at about $44,000. Clear Investment Research LLC raised its stake in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Gilfoyle & Co LLC purchased a new stake in Meta Platforms in the fourth quarter valued at about $39,000. Finally, Cranbrook Wealth Management LLC raised its stake in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on META shares. TD Securities upped their target price on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Monday, July 1st. Sanford C. Bernstein reduced their price objective on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, KeyCorp upped their target price on Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $515.64.

Get Our Latest Research Report on Meta Platforms

Meta Platforms Trading Up 0.9 %

NASDAQ:META opened at $534.69 on Thursday. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The firm has a market cap of $1.36 trillion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. 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 stock has a fifty day moving average price of $490.20 and a 200 day moving average price of $464.66.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 20.15 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.37%. Meta Platforms’s payout ratio is 11.49%.

Insider Transactions at Meta Platforms

In other news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The disclosure for this sale can be found here. In the last three months, insiders sold 294,768 shares of company stock valued at $146,314,257. Insiders own 13.71% of the company’s stock.

About Meta Platforms

(Free Report)

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.

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

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