Silverlake Wealth Management LLC Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

Silverlake Wealth Management LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 34.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,928 shares of the social networking company’s stock after selling 996 shares during the period. Silverlake Wealth Management LLC’s holdings in Meta Platforms were worth $936,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in META. S.A. Mason LLC boosted its holdings in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. LongView Wealth Management raised its holdings in shares of Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares in the last quarter. Madison Wealth Partners Inc lifted its stake in Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after purchasing an additional 23 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in Meta Platforms by 1.9% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock worth $648,000 after buying an additional 23 shares in the last quarter. Finally, Monterey Private Wealth Inc. boosted its holdings in Meta Platforms by 1.8% during the first quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock worth $670,000 after buying an additional 24 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on META. Sanford C. Bernstein cut their price objective on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Jefferies Financial Group reduced their target price on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a report on Thursday, April 25th. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Citigroup reduced their price objective on shares of 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, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Monday. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $511.27.

Meta Platforms Trading Up 0.1 %

Shares of META stock opened at $509.96 on Thursday. The business’s 50 day moving average is $481.05 and its two-hundred day moving average is $458.42. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The company has a market cap of $1.29 trillion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its 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 business had revenue of $36.46 billion for 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%. Equities analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a dividend of $0.50 per share. 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 is presently 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 8,069 shares of the company’s stock, valued at approximately $4,167,719.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $516.51, for a total transaction of $253,089.90. Following the transaction, the chief operating officer now owns 8,069 shares in the company, valued at approximately $4,167,719.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Insiders sold a total of 252,395 shares of company stock worth $123,781,816 in the last 90 days. 13.71% of the stock is owned by company insiders.

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.