Consilio Wealth Advisors LLC Sells 617 Shares of Meta Platforms, Inc. (NASDAQ:META)

Consilio Wealth Advisors LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,037 shares of the social networking company’s stock after selling 617 shares during the quarter. Meta Platforms makes up about 0.9% of Consilio Wealth Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Consilio Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,960,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of META. Baird Financial Group Inc. lifted its holdings in shares of Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after buying an additional 163,067 shares in the last quarter. California State Teachers Retirement System raised its stake in Meta Platforms by 1.5% during the fourth 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 purchasing an additional 51,900 shares in the last quarter. Donoghue Forlines LLC raised its stake in Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after purchasing an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP raised its stake in Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after purchasing an additional 140,000 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

META has been the topic of a number of recent research reports. Barclays decreased their price target on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Monday. Guggenheim decreased their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, Wells Fargo & Company reduced their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $511.27.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $514.96, for a total transaction of $8,600,861.92. Following the completion of the transaction, the chief executive officer now directly owns 213,007 shares of the company’s stock, valued at approximately $109,690,084.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $514.96, for a total transaction of $8,600,861.92. Following the completion of the transaction, the chief executive officer now directly owns 213,007 shares of the company’s stock, valued at approximately $109,690,084.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $514.41, for a total transaction of $211,936.92. Following the transaction, the chief operating officer now directly owns 7,207 shares of the company’s stock, valued at $3,707,352.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,086 shares of company stock valued at $106,423,370. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $509.50 on Wednesday. The firm has a market capitalization of $1.29 trillion, a P/E ratio of 29.26, a PEG ratio of 1.31 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average price of $480.72 and a 200 day moving average price of $458.05. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Sell-side analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.