Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Salvus Wealth Management LLC

Salvus Wealth Management LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,134 shares of the social networking company’s stock after selling 104 shares during the quarter. Salvus Wealth Management LLC’s holdings in Meta Platforms were worth $572,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of META. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. Richardson Financial Services Inc. increased its stake in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the period. Quest Partners LLC purchased a new position in Meta Platforms in the 4th quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Meta Platforms in the first quarter valued at $44,000. Finally, Clear Investment Research LLC boosted its holdings in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on META shares. TD Securities increased their price target on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research note on Thursday, August 1st. Rosenblatt Securities increased their price objective on shares of Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. UBS Group raised their price objective on shares of Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $572.51.

Meta Platforms Price Performance

META traded up $10.57 on Thursday, hitting $537.33. 13,462,497 shares of the company were exchanged, compared to its average volume of 16,375,996. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $542.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. The firm has a market capitalization of $1.36 trillion, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The business’s fifty day moving average is $498.92 and its 200 day moving average is $485.97.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the firm posted $3.23 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis 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 currently 11.49%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total value of $8,827,174.02. Following the sale, the chief executive officer now directly owns 72,473 shares in the company, valued at $38,302,705.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the sale, the chief executive officer now owns 72,473 shares of the company’s stock, valued at $38,302,705.23. The disclosure for this sale can be found here. Insiders sold 349,174 shares of company stock valued at $175,146,777 in the last 90 days. 13.71% of the stock is currently owned by insiders.

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.