Meta Platforms, Inc. (NASDAQ:META) Shares Sold by 180 Wealth Advisors LLC

180 Wealth Advisors LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,783 shares of the social networking company’s stock after selling 49 shares during the quarter. Meta Platforms accounts for approximately 1.4% of 180 Wealth Advisors LLC’s holdings, making the stock its 10th biggest holding. 180 Wealth Advisors LLC’s holdings in Meta Platforms were worth $8,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of META. Millstone Evans Group LLC bought a new stake in Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $47,000. Finally, Conquis Financial LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $59,000. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Barclays reduced their target price on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Wedbush boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $701.05.

Meta Platforms Stock Down 0.4%

Shares of NASDAQ META opened at $642.23 on Friday. The firm has a market capitalization of $1.61 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The firm’s 50-day moving average is $578.56 and its 200-day moving average is $611.04.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.71 EPS. Equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio is 8.19%.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the sale, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. This trade represents a 23.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the sale, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,664 shares of company stock worth $35,484,670 in the last ninety days. Company insiders own 13.61% of the company’s stock.

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.