Tlwm Trims Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Tlwm cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 25.6% during the first quarter, HoldingsChannel.com reports. The fund owned 4,038 shares of the social networking company’s stock after selling 1,393 shares during the quarter. Meta Platforms makes up 0.4% of Tlwm’s holdings, making the stock its 16th largest position. Tlwm’s holdings in Meta Platforms were worth $1,961,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of META. S.A. Mason LLC increased its holdings in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after buying an additional 20 shares in the last quarter. Madison Wealth Partners Inc increased its stake in Meta Platforms by 1.6% in the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after purchasing an additional 23 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. raised its holdings in Meta Platforms by 1.9% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock worth $648,000 after purchasing an additional 23 shares during the last quarter. Monterey Private Wealth Inc. boosted its position in Meta Platforms by 1.8% during the first quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock worth $670,000 after purchasing an additional 24 shares in the last quarter. Finally, Grandview Asset Management LLC grew its holdings in Meta Platforms by 0.3% in the first quarter. Grandview Asset Management LLC now owns 8,549 shares of the social networking company’s stock valued at $4,151,000 after purchasing an additional 24 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the transaction, the chief executive officer now owns 230,461 shares of the company’s stock, valued at $117,737,915.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Javier Olivan sold 490 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $486.75, for a total value of $238,507.50. Following the sale, the chief operating officer now owns 8,559 shares of the company’s stock, valued at approximately $4,166,093.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the completion of the sale, the chief executive officer now owns 230,461 shares in the company, valued at $117,737,915.68. The disclosure for this sale can be found here. In the last three months, insiders sold 233,512 shares of company stock valued at $113,597,536. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on META shares. The Goldman Sachs Group cut their price target 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 reissued a “market outperform” rating and set a $550.00 price objective on shares of Meta Platforms in a research note on Monday, April 22nd. Canaccord Genuity Group reduced their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. KeyCorp increased their target price on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, Robert W. Baird cut their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $510.05.

Meta Platforms Stock Performance

Meta Platforms stock opened at $514.84 on Friday. 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 firm’s fifty day moving average price is $479.53 and its 200 day moving average price is $452.69. The company has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 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 firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, research analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced 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. 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 0.39%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

About Meta Platforms

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.