Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,074 shares of the social networking company’s stock after selling 96 shares during the period. Sax Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,493,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of META. S.A. Mason LLC boosted its holdings in shares of Meta Platforms by 1.5% in the 1st 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 during the period. Horizon Bancorp Inc. IN lifted its holdings in Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares during the last quarter. Northern Capital Management Inc. boosted its stake in Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after acquiring an additional 21 shares during the period. LongView Wealth Management grew its holdings in shares of Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after purchasing an additional 22 shares during the last quarter. Finally, Hanson & Doremus Investment Management raised its position in shares of Meta Platforms by 5.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after purchasing an additional 22 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 2.2 %

NASDAQ META traded up $10.07 on Friday, hitting $463.48. 4,717,322 shares of the stock were exchanged, compared to its average volume of 16,127,890. The company’s 50-day moving average price is $493.33 and its two-hundred day moving average price is $473.80. The company has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 1.19 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $36.28 billion. Research analysts predict that Meta Platforms, Inc. will post 20.23 EPS for the current year.

Meta Platforms Dividend Announcement

The firm 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. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. Meta Platforms’s dividend payout ratio is 11.49%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on META shares. Wedbush restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research note on Wednesday. Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Thursday. BNP Paribas began coverage on Meta Platforms in a research report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target for the company. Piper Sandler reissued an “overweight” rating and set a $545.00 price target (down from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Finally, KeyCorp lifted their price objective on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $525.66.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the firm’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 $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The disclosure for this sale can be found here. Insiders sold 311,348 shares of company stock valued at $154,678,120 over the last three months. 13.71% of the stock is owned by corporate insiders.

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.