Edge Capital Group LLC Sells 26 Shares of Meta Platforms, Inc. (NASDAQ:META)

Edge Capital Group LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,597 shares of the social networking company’s stock after selling 26 shares during the period. Edge Capital Group LLC’s holdings in Meta Platforms were worth $3,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Spinnaker Trust grew its position in Meta Platforms by 6.4% in the 3rd quarter. Spinnaker Trust now owns 1,673 shares of the social networking company’s stock worth $502,000 after purchasing an additional 100 shares during the period. Atria Wealth Solutions Inc. grew its holdings in shares of Meta Platforms by 1.3% in the third quarter. Atria Wealth Solutions Inc. now owns 121,785 shares of the social networking company’s stock worth $36,561,000 after acquiring an additional 1,544 shares during the period. Soltis Investment Advisors LLC increased its position in Meta Platforms by 479.1% during the third quarter. Soltis Investment Advisors LLC now owns 11,137 shares of the social networking company’s stock valued at $3,343,000 after acquiring an additional 9,214 shares during the last quarter. MRA Advisory Group lifted its holdings in Meta Platforms by 67.9% in the third quarter. MRA Advisory Group now owns 1,523 shares of the social networking company’s stock valued at $457,000 after acquiring an additional 616 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Meta Platforms by 5.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 327,787 shares of the social networking company’s stock valued at $98,405,000 after purchasing an additional 17,569 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $495.06 on Thursday. The firm has a 50 day moving average of $480.21 and a 200 day moving average of $434.27. 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 company has a market capitalization of $1.26 trillion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $258.88 and a 52 week high of $531.49.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. On average, sell-side analysts predict that Meta Platforms, Inc. will post 20.19 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 31,493 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $511.13, for a total transaction of $16,097,017.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $511.13, for a total value of $16,097,017.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 8,951 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 transaction of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The disclosure for this sale can be found here. Insiders have sold a total of 635,968 shares of company stock valued at $313,346,759 in the last 90 days. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, April 25th. The Goldman Sachs Group cut their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and set a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Finally, KeyCorp decreased their price objective on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $510.41.

Check Out Our Latest Analysis on Meta Platforms

Meta Platforms Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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