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

Diversified LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 19.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,546 shares of the social networking company’s stock after selling 372 shares during the period. Diversified LLC’s holdings in Meta Platforms were worth $751,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Smart Money Group LLC acquired a new position in Meta Platforms during the first quarter worth $385,000. First Command Advisory Services Inc. raised its stake in shares of Meta Platforms by 2.3% in the first quarter. First Command Advisory Services Inc. now owns 2,719 shares of the social networking company’s stock valued at $1,315,000 after acquiring an additional 60 shares in the last quarter. Financial Counselors Inc. raised its stake in shares of Meta Platforms by 11.4% in the first quarter. Financial Counselors Inc. now owns 110,729 shares of the social networking company’s stock valued at $53,768,000 after acquiring an additional 11,299 shares in the last quarter. Peregrine Asset Advisers Inc. raised its stake in shares of Meta Platforms by 70.7% in the first quarter. Peregrine Asset Advisers Inc. now owns 1,538 shares of the social networking company’s stock valued at $747,000 after acquiring an additional 637 shares in the last quarter. Finally, Chase Investment Counsel Corp raised its stake in shares of Meta Platforms by 1.2% in the first quarter. Chase Investment Counsel Corp now owns 19,069 shares of the social networking company’s stock valued at $9,259,000 after acquiring an additional 218 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on META. Truist Financial reduced their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company increased their price objective on Meta Platforms from $593.00 to $625.00 and gave the company an “overweight” rating in a research note on Monday. Wedbush reduced their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. KeyCorp increased their price objective on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $513.59.

Read Our Latest Stock Report on META

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were 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 owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Insiders have sold 260,459 shares of company stock worth $128,049,749 in the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Up 0.1 %

Shares of NASDAQ META opened at $530.00 on Wednesday. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The firm has a fifty day moving average of $488.29 and a 200-day moving average of $464.16. The stock has a market capitalization of $1.34 trillion, a PE ratio of 30.44, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

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

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date of this dividend 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 is currently 11.49%.

About Meta Platforms

(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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