Woodmont Investment Counsel LLC Lowers Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Woodmont Investment Counsel LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,053 shares of the social networking company’s stock after selling 120 shares during the period. Woodmont Investment Counsel LLC’s holdings in Meta Platforms were worth $2,454,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Quest Partners LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms in the first quarter worth approximately $44,000. Clear Investment Research LLC grew its holdings in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Gilfoyle & Co LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $39,000. Finally, Cranbrook Wealth Management LLC grew its holdings in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on META shares. Wedbush cut their target price on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a report on Monday, April 22nd. UBS Group dropped their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Citigroup dropped their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Wells Fargo & Company dropped their price target 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. Two investment 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $511.27.

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 completion of the sale, the chief financial officer now directly owns 74,580 shares in the company, valued at $35,190,573. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other 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 transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,086 shares of company stock worth $106,423,370. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Up 1.0 %

Shares of NASDAQ META opened at $509.50 on Wednesday. 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 market capitalization of $1.29 trillion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The business has a fifty day moving average price of $480.72 and a 200 day moving average price of $458.05.

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

Meta Platforms Announces Dividend

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

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.