Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Priebe Wealth Holdings LLC

Priebe Wealth Holdings LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 464 shares of the social networking company’s stock after selling 26 shares during the quarter. Priebe Wealth Holdings LLC’s holdings in Meta Platforms were worth $234,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Tennessee Valley Asset Management Partners raised its stake in shares of Meta Platforms by 0.6% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after purchasing an additional 27 shares during the last quarter. Sentry Investment Management LLC raised its holdings in shares of Meta Platforms by 0.5% during the fourth quarter. Sentry Investment Management LLC now owns 12,967 shares of the social networking company’s stock worth $4,590,000 after purchasing an additional 62 shares during the last quarter. Bourgeon Capital Management LLC lifted its position in Meta Platforms by 3,000.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 248 shares of the social networking company’s stock valued at $88,000 after purchasing an additional 240 shares during the period. Keel Point LLC lifted its holdings in shares of Meta Platforms by 20.5% in the 4th quarter. Keel Point LLC now owns 8,062 shares of the social networking company’s stock valued at $2,854,000 after buying an additional 1,372 shares during the period. Finally, Private Client Services LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $322,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 72,473 shares of the company’s stock, valued at approximately $38,302,705.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the completion of the sale, the insider now owns 36,940 shares of the company’s stock, valued at $19,724,113. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 72,473 shares in the company, valued at $38,302,705.23. The disclosure for this sale can be found here. Insiders have sold 349,174 shares of company stock worth $175,146,777 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 1.4 %

META stock traded down $7.32 during midday trading on Friday, hitting $530.01. 8,379,165 shares of the company’s stock were exchanged, compared to its average volume of 16,325,560. The stock has a market capitalization of $1.34 trillion, a PE ratio of 30.39, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81. The business has a 50-day simple moving average of $499.79 and a two-hundred day simple moving average of $486.33.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company 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 company posted $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, sell-side analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced 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 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on META. Wedbush reaffirmed an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a report on Wednesday, July 24th. Citigroup upped their price target on Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Loop Capital upped their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Evercore ISI increased their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Oppenheimer boosted their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have assigned 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 a consensus price target of $574.41.

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.