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

Lmcg Investments LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,989 shares of the social networking company’s stock after selling 93 shares during the period. Lmcg Investments LLC’s holdings in Meta Platforms were worth $12,097,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms in the 4th quarter valued at $47,000. Finally, Conquis Financial LLC acquired a new stake in Meta Platforms in the 4th quarter valued at $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares of the company’s stock, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer now directly owns 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,652 shares of company stock valued at $34,815,208. Insiders own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on META shares. UBS Group increased their price target on Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Citigroup raised their target price on Meta Platforms from $655.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. TD Securities lowered their target price on Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. JMP Securities restated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $702.48.

Meta Platforms Stock Performance

META opened at $687.95 on Thursday. The business’s 50 day moving average is $583.27 and its 200-day moving average is $613.00. The stock has a market cap of $1.73 trillion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.71 earnings per share. On average, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Meta Platforms Company Profile

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.