Meta Platforms (NASDAQ:META) Shares Down 0.2% After Insider Selling

Meta Platforms, Inc. (NASDAQ:META) shares were down 0.2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $506.02 and last traded at $508.30. Approximately 2,849,584 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 16,219,292 shares. The stock had previously closed at $509.50.

Specifically, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $503.08, for a total transaction of $8,402,442.16. Following the transaction, the chief executive officer now owns 204,280 shares of the company’s stock, valued at $102,769,182.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $503.08, for a total value of $8,402,442.16. Following the transaction, the chief executive officer now directly owns 204,280 shares in the company, valued at approximately $102,769,182.40. The disclosure for this sale can be found here. In the last three months, insiders sold 251,905 shares of company stock valued at $123,528,726. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on META shares. Raymond James lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday. BNP Paribas initiated coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price for the company. Stifel Nicolaus boosted 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. TD Cowen cut their target price on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.

Meta Platforms Price Performance

The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.21. The company has a 50 day moving average of $482.42 and a 200 day moving average of $458.78.

Meta Platforms (NASDAQ:META) last released 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 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, equities research analysts forecast that Meta Platforms, Inc. will post 20.15 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors have recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC grew its holdings in shares of 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 worth $31,000 after purchasing an additional 42 shares during the period. Quest Partners LLC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC increased its position 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 acquiring an additional 74 shares in the last quarter. Delos Wealth Advisors LLC raised its stake in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. Finally, Cranbrook Wealth Management LLC lifted its holdings in shares of 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 acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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.