NBC Securities Inc. Cuts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

NBC Securities Inc. cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,907 shares of the social networking company’s stock after selling 447 shares during the period. NBC Securities Inc.’s holdings in Meta Platforms were worth $3,353,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Madison Wealth Partners Inc boosted its holdings in shares of Meta Platforms by 1.6% in the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after acquiring an additional 23 shares in the last quarter. Addison Advisors LLC boosted its holdings in shares of Meta Platforms by 3.9% in the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after acquiring an additional 25 shares in the last quarter. Smithfield Trust Co boosted its holdings in shares of Meta Platforms by 0.5% in the fourth quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company’s stock valued at $1,730,000 after acquiring an additional 25 shares in the last quarter. American National Bank boosted its holdings in shares of Meta Platforms by 1.6% in the fourth quarter. American National Bank now owns 1,590 shares of the social networking company’s stock valued at $563,000 after acquiring an additional 25 shares in the last quarter. Finally, WoodTrust Financial Corp boosted its holdings in shares of Meta Platforms by 1.8% in the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock valued at $548,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of several analyst reports. Citigroup lowered their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Sanford C. Bernstein decreased their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and set a $545.00 price objective (down previously from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Loop Capital decreased their price objective on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Rosenblatt Securities boosted their price objective on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Two research 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $510.41.

Meta Platforms Stock Performance

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

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 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 during the quarter, compared to analyst estimates of $36.28 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

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

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were 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 in the company, valued at $4,587,843. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $507.00, for a total transaction of $248,430.00. Following the sale, the chief operating officer now owns 9,049 shares of the company’s stock, valued at $4,587,843. The disclosure for this sale can be found here. Over 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.

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.