Weaver Consulting Group Sells 94 Shares of Meta Platforms, Inc. (NASDAQ:META)

Weaver Consulting Group cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,730 shares of the social networking company’s stock after selling 94 shares during the period. Weaver Consulting Group’s holdings in Meta Platforms were worth $840,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in META. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter worth about $32,000. Clear Investment Research LLC grew its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Cranbrook Wealth Management LLC grew its holdings in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new position in Meta Platforms during the 4th quarter worth about $39,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $504.22 on Friday. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The firm’s 50 day simple moving average is $480.00 and its 200-day simple moving average is $454.77. 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 issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

Analyst Ratings Changes

META has been the topic of several recent research reports. KeyCorp increased their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Barclays decreased their price target on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Loop Capital decreased their price target on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Sanford C. Bernstein decreased their price target on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Guggenheim decreased their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $510.05.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the sale, the chief executive officer now owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms 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 completion of the sale, the chief financial officer now directly owns 74,580 shares in the company, valued at approximately $35,190,573. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,512 shares of company stock valued at $113,597,536. 13.71% of the stock is owned by company 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.