Liberty Wealth Management LLC Decreases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Liberty Wealth Management LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,217 shares of the social networking company’s stock after selling 296 shares during the quarter. Liberty Wealth Management LLC’s holdings in Meta Platforms were worth $2,048,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Meta Platforms in the fourth quarter valued at about $11,285,855,000. International Assets Investment Management LLC raised its stake in Meta Platforms by 11,154.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after buying an additional 4,908,251 shares during the last quarter. Capital Research Global Investors raised its stake in Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management raised its stake in Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after buying an additional 3,888,308 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.9 %

Shares of NASDAQ META opened at $534.69 on Thursday. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve 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 stock has a fifty day simple moving average of $490.20 and a 200-day simple moving average of $464.66. The stock has a market capitalization of $1.36 trillion, a PE ratio of 30.71, a PEG ratio of 1.37 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share 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 business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared 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 0.37%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $533.87, for a total value of $8,916,696.74. Following the transaction, the chief executive officer now owns 151,918 shares in the company, valued at approximately $81,104,462.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Insiders sold 294,768 shares of company stock valued at $146,314,257 in the last ninety days. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of research reports. Raymond James increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday, July 1st. The Goldman Sachs Group cut their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Guggenheim cut their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. KeyCorp raised their target price on Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Finally, BNP Paribas assumed coverage on Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $515.64.

View Our Latest Stock Report on META

Meta Platforms Company Profile

(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.

See Also

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

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