Capital Asset Advisory Services LLC Sells 321 Shares of Meta Platforms, Inc. (NASDAQ:META)

Capital Asset Advisory Services LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,288 shares of the social networking company’s stock after selling 321 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Meta Platforms were worth $5,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Stone House Investment Management LLC lifted its stake in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its position in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares during the last quarter. Quest Partners LLC purchased a new stake in Meta Platforms in the fourth quarter worth approximately $32,000. Clear Investment Research LLC grew its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC raised its stake in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total value of $283,725.00. Following the completion of the sale, the insider now directly owns 38,983 shares of the company’s stock, valued at approximately $18,906,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $486.75, for a total value of $238,507.50. Following the transaction, the chief operating officer now owns 8,559 shares of the company’s stock, valued at $4,166,093.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the transaction, the insider now directly owns 38,983 shares of the company’s stock, valued at $18,906,755. The disclosure for this sale can be found here. Insiders have sold 233,512 shares of company stock valued at $113,597,536 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on META shares. Canaccord Genuity Group reduced their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group lowered their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. JMP Securities restated a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a research report on Monday, April 22nd. Rosenblatt Securities boosted their price objective on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Wolfe Research dropped their price objective on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $510.05.

Meta Platforms Stock Performance

Shares of META traded down $15.34 on Friday, reaching $504.22. The company’s stock had a trading volume of 15,757,171 shares, compared to its average volume of 16,444,535. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The stock has a market capitalization of $1.28 trillion, a P/E ratio of 29.47, a PEG ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock’s 50 day simple moving average is $479.53 and its two-hundred day simple moving average is $452.69.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Meta Platforms Company 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.