Tributary Capital Management LLC Decreases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Tributary Capital Management LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,535 shares of the social networking company’s stock after selling 50 shares during the period. Tributary Capital Management LLC’s holdings in Meta Platforms were worth $1,231,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Beaird Harris Wealth Management LLC increased 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 valued at $31,000 after purchasing an additional 42 shares during the period. Quest Partners LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $32,000. Clear Investment Research LLC increased 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 valued at $33,000 after purchasing an additional 74 shares during the period. Cranbrook Wealth Management LLC increased 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 valued at $36,000 after purchasing an additional 45 shares during the period. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $516.51, for a total value of $253,089.90. Following the completion of the sale, the chief operating officer now owns 8,069 shares in the company, valued at approximately $4,167,719.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the sale, the director now owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Insiders sold 218,086 shares of company stock worth $106,423,370 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $509.50 on Wednesday. The firm has a market cap of $1.29 trillion, a PE ratio of 29.26, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $480.72 and a two-hundred day simple moving average of $458.05. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business 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%. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

META has been the topic of a number of research analyst reports. Wolfe Research reduced their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Roth Mkm lifted their price objective on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Piper Sandler reaffirmed an “overweight” rating and set a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. TD Cowen cut their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Oppenheimer cut their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report 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 MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $511.27.

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.