Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Tcwp LLC

Tcwp LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 919 shares of the social networking company’s stock after selling 31 shares during the period. Tcwp LLC’s holdings in Meta Platforms were worth $463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $32,000. Clear Investment Research LLC grew its stake in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Delos Wealth Advisors LLC grew its stake in 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 buying an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms during the 2nd quarter worth $38,000. Finally, Ruedi Wealth Management Inc. grew its stake in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.4 %

Shares of NASDAQ META opened at $561.35 on Monday. The business has a fifty day simple moving average of $507.58 and a 200-day simple moving average of $497.27. The company has a market cap of $1.42 trillion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $564.50.

Meta Platforms (NASDAQ:META) last announced 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. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.23 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Rosenblatt Securities upped their price objective on Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird upped their price objective on Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Loop Capital upped their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Truist Financial upped their price objective on Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group upped their price objective on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the transaction, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 346,666 shares of company stock valued at $180,145,414. Corporate insiders own 13.71% of the company’s stock.

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.