Meta Platforms, Inc. (NASDAQ:META) Holdings Decreased by Narus Financial Partners LLC

Narus Financial Partners LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,217 shares of the social networking company’s stock after selling 229 shares during the period. Narus Financial Partners LLC’s holdings in Meta Platforms were worth $1,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Farmers & Merchants Investments Inc. lifted its position in Meta Platforms by 1.5% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 1,945 shares of the social networking company’s stock worth $944,000 after buying an additional 28 shares in the last quarter. Cullinan Associates Inc. increased its stake in shares of Meta Platforms by 26.8% in the first quarter. Cullinan Associates Inc. now owns 18,316 shares of the social networking company’s stock worth $8,894,000 after acquiring an additional 3,868 shares during the last quarter. Iams Wealth Management LLC raised its holdings in shares of Meta Platforms by 135.9% during the first quarter. Iams Wealth Management LLC now owns 2,062 shares of the social networking company’s stock worth $998,000 after acquiring an additional 1,188 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Meta Platforms by 0.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,345,256 shares of the social networking company’s stock valued at $653,229,000 after purchasing an additional 8,090 shares during the last quarter. Finally, WESPAC Advisors SoCal LLC boosted its position in Meta Platforms by 43.6% during the first quarter. WESPAC Advisors SoCal LLC now owns 2,858 shares of the social networking company’s stock valued at $1,388,000 after purchasing an additional 868 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Meta Platforms stock opened at $509.50 on Wednesday. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a fifty day moving average price of $480.72 and a two-hundred day moving average price of $458.05. The firm has a market capitalization of $1.29 trillion, a P/E ratio of 29.26, a P/E/G ratio of 1.31 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 earnings per share (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 the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Monday. Rosenblatt Securities lifted their target price on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Stifel Nicolaus increased their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group reduced their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given 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 target price of $511.27.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 74,580 shares in the company, valued at $35,190,573. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders have sold a total of 218,086 shares of company stock worth $106,423,370 in the last three months. 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.