Outfitter Financial LLC Decreases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Outfitter Financial LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,810 shares of the social networking company’s stock after selling 170 shares during the quarter. Meta Platforms comprises 3.1% of Outfitter Financial LLC’s portfolio, making the stock its 5th biggest holding. Outfitter Financial LLC’s holdings in Meta Platforms were worth $3,792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. S.A. Mason LLC increased its stake 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 acquiring an additional 20 shares during the period. Horizon Bancorp Inc. IN grew its stake in Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares during the last quarter. LongView Wealth Management grew its stake in Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares during the last quarter. Hanson & Doremus Investment Management grew its stake in Meta Platforms by 5.3% during the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after buying an additional 22 shares during the last quarter. Finally, Madison Wealth Partners Inc grew its stake in Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after buying an additional 23 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on META shares. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Royal Bank of Canada decreased their price objective on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Monday. Oppenheimer decreased their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Loop Capital reissued a “buy” rating and set a $550.00 price target on shares of Meta Platforms in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the sale, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the sale, 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. Over the last 90 days, insiders have sold 251,905 shares of company stock worth $123,528,726. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META traded up $23.42 on Friday, reaching $533.38. 12,263,415 shares of the company’s stock traded hands, compared to its average volume of 16,214,853. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $535.67. 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 has a 50-day simple moving average of $482.42 and a 200 day simple moving average of $458.78. The stock has a market cap of $1.35 trillion, a PE ratio of 30.28, a P/E/G ratio of 1.32 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

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

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.