Waycross Partners LLC Decreases Position in Meta Platforms, Inc. (NASDAQ:META)

Waycross Partners LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 18.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,054 shares of the social networking company’s stock after selling 12,994 shares during the quarter. Meta Platforms accounts for about 4.9% of Waycross Partners LLC’s portfolio, making the stock its 4th largest position. Waycross Partners LLC’s holdings in Meta Platforms were worth $28,675,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. S.A. Mason LLC grew its position in shares of Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares during the period. Horizon Bancorp Inc. IN increased its stake in Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after buying an additional 21 shares during the last quarter. Hanson & Doremus Investment Management increased its position in shares of Meta Platforms by 5.3% in the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after acquiring an additional 22 shares during the last quarter. LongView Wealth Management increased its position in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares during the last quarter. Finally, Madison Wealth Partners Inc raised its position in Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 7,579 shares in the company, valued at $3,924,027.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 8,727 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $528.87, for a total transaction of $4,615,448.49. Following the transaction, the chief executive officer now owns 178,099 shares of the company’s stock, valued at $94,191,218.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $517.75, for a total value of $253,697.50. Following the completion of the sale, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at $3,924,027.25. The disclosure for this sale can be found here. Insiders have sold a total of 260,047 shares of company stock worth $127,838,805 over the last quarter. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of a number of research analyst reports. Sanford C. Bernstein reduced their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. TD Cowen decreased their target price on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Rosenblatt Securities raised their price target on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Oppenheimer decreased their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $511.88.

Check Out Our Latest Stock Analysis on Meta Platforms

Meta Platforms Price Performance

Shares of META stock opened at $529.32 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The company has a market capitalization of $1.34 trillion, a P/E ratio of 30.40, a P/E/G ratio of 1.40 and a beta of 1.21. The company’s 50-day simple moving average is $486.29 and its two-hundred day simple moving average is $462.92. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.15 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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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