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

Fox Hill Wealth Management lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,032 shares of the social networking company’s stock after selling 633 shares during the quarter. Meta Platforms comprises 2.2% of Fox Hill Wealth Management’s holdings, making the stock its 11th largest position. Fox Hill Wealth Management’s holdings in Meta Platforms were worth $3,546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC increased its stake in shares of Meta Platforms by 411.1% in the 4th 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 during the last quarter. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. grew its holdings in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $525.60 on Friday. The company’s 50 day simple moving average is $505.44 and its 200-day simple moving average is $495.07. The firm has a market cap of $1.33 trillion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the firm posted $3.23 EPS. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the transaction, the insider now owns 38,750 shares in the company, valued at $19,258,362.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 357,574 shares of company stock valued at $185,587,773. 13.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on META. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price objective on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Cowen raised their target price on Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Evercore ISI lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price target on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $577.26.

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.