Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Brickley Wealth Management

Brickley Wealth Management cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,286 shares of the social networking company’s stock after selling 105 shares during the quarter. Meta Platforms accounts for 0.1% of Brickley Wealth Management’s investment portfolio, making the stock its 29th largest position. Brickley Wealth Management’s holdings in Meta Platforms were worth $624,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in META. Norges Bank acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $11,285,855,000. International Assets Investment Management LLC raised its holdings in shares of Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after purchasing an additional 4,908,251 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management raised its holdings in shares of Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.1 %

Shares of META opened at $509.96 on Friday. 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’s 50-day moving average is $482.42 and its two-hundred day moving average is $458.78. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The firm has a market capitalization of $1.29 trillion, a P/E ratio of 29.29, a PEG ratio of 1.32 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, research analysts predict that Meta Platforms, Inc. will post 20.15 earnings per share 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 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 dividend payout ratio (DPR) is presently 11.49%.

Analyst Ratings Changes

Several equities research analysts recently commented on META shares. The Goldman Sachs Group cut their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Royal Bank of Canada cut their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Oppenheimer cut their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Guggenheim cut 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $511.27.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $517.75, for a total transaction of $253,697.50. Following the completion of the sale, the chief operating officer now directly owns 7,579 shares in the company, valued at approximately $3,924,027.25. The disclosure for this sale can be found here. Insiders have sold 251,905 shares of company stock valued at $123,528,726 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.