Meta Platforms, Inc. (NASDAQ:META) Shares Sold by AMI Investment Management Inc.

AMI Investment Management Inc. cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 20.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,236 shares of the social networking company’s stock after selling 2,591 shares during the quarter. Meta Platforms makes up approximately 1.8% of AMI Investment Management Inc.’s investment portfolio, making the stock its 16th largest position. AMI Investment Management Inc.’s holdings in Meta Platforms were worth $4,970,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of META. Strata Wealth Advisors LLC acquired a new position in shares of Meta Platforms during the 1st quarter worth approximately $305,000. Dumont & Blake Investment Advisors LLC raised its stake in shares of Meta Platforms by 1.8% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 4,321 shares of the social networking company’s stock worth $2,098,000 after buying an additional 76 shares during the period. Trilogy Capital Inc. raised its stake in shares of Meta Platforms by 80.6% during the 1st quarter. Trilogy Capital Inc. now owns 1,754 shares of the social networking company’s stock worth $852,000 after buying an additional 783 shares during the period. Red Door Wealth Management LLC raised its stake in shares of Meta Platforms by 15.1% during the 1st quarter. Red Door Wealth Management LLC now owns 3,755 shares of the social networking company’s stock worth $1,823,000 after buying an additional 494 shares during the period. Finally, Gradient Capital Advisors LLC raised its stake in shares of Meta Platforms by 1.0% during the 1st quarter. Gradient Capital Advisors LLC now owns 6,125 shares of the social networking company’s stock worth $2,974,000 after buying an additional 58 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $504.22 on Monday. The business has a 50-day moving average of $480.00 and a 200 day moving average of $455.62. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared 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 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the stock in a transaction dated Wednesday, May 15th. The stock was 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 the SEC website. In other news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was 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 directly owns 230,461 shares in the company, valued at approximately $117,737,915.68. The disclosure for this sale can be found here. Insiders have sold 201,557 shares of company stock valued at $97,894,296 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several research analyst reports. The Goldman Sachs Group reduced their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. TD Cowen reduced their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company reduced their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus increased their price objective on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $510.05.

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.