Lam Group Inc. Sells 33 Shares of Meta Platforms, Inc. (NASDAQ:META)

Lam Group Inc. reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 768 shares of the social networking company’s stock after selling 33 shares during the quarter. Lam Group Inc.’s holdings in Meta Platforms were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Baird Financial Group Inc. lifted its position in Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after acquiring an additional 163,067 shares in the last quarter. California State Teachers Retirement System lifted its position in Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Donoghue Forlines LLC lifted its position in Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after acquiring an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Meta Platforms by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after acquiring an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP lifted its position in Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after acquiring an additional 140,000 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Down 1.4 %

Shares of NASDAQ:META opened at $499.49 on Thursday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The company has a 50-day moving average price of $479.79 and a 200 day moving average price of $445.53. The company has a market cap of $1.27 trillion, a price-to-earnings ratio of 28.69, a PEG ratio of 1.30 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced 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 net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Analyst Ratings Changes

META has been the topic of several analyst reports. KeyCorp lowered their price objective on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Truist Financial lowered their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. lowered their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, Barclays lowered their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.41.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $507.00, for a total value of $248,430.00. Following the completion of the sale, the chief operating officer now owns 9,049 shares of the company’s stock, valued at $4,587,843. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $503.34, for a total value of $8,406,784.68. Following the completion of the sale, the chief executive officer now owns 275,297 shares of the company’s stock, valued at $138,567,991.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $507.00, for a total transaction of $248,430.00. Following the completion of the sale, the chief operating officer now directly owns 9,049 shares of the company’s stock, valued at approximately $4,587,843. The disclosure for this sale can be found here. In the last quarter, insiders sold 391,071 shares of company stock valued at $192,834,857. Insiders own 13.71% of the company’s stock.

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.