Bulltick Wealth Management LLC Lowers Position in Meta Platforms, Inc. (NASDAQ:META)

Bulltick Wealth Management LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 17.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,529 shares of the social networking company’s stock after selling 1,570 shares during the period. Meta Platforms makes up about 1.2% of Bulltick Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Bulltick Wealth Management LLC’s holdings in Meta Platforms were worth $4,339,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Csenge Advisory Group increased its position in Meta Platforms by 12.0% in the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company’s stock worth $5,498,000 after purchasing an additional 1,019 shares during the last quarter. Suvretta Capital Management LLC increased its position in Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after purchasing an additional 1,850 shares during the last quarter. Skye Global Management LP increased its position in Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after purchasing an additional 43,200 shares during the last quarter. ARQ Wealth Advisors LLC increased its position in Meta Platforms by 4.5% in the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock worth $452,000 after purchasing an additional 34 shares during the last quarter. Finally, JMG Financial Group Ltd. bought a new stake in Meta Platforms in the first quarter worth $284,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on META. HSBC upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and boosted their price objective for the company from $610.00 to $900.00 in a research report on Thursday, July 31st. Susquehanna cut their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $610.00 to $710.00 and gave the company a “market perform” rating in a research report on Thursday, July 31st. Roth Capital boosted their price objective on shares of Meta Platforms from $620.00 to $740.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Moffett Nathanson boosted their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $822.41.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 15,847 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher K. Cox sold 60,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the completion of the transaction, the insider owned 237,205 shares in the company, valued at approximately $184,059,219.75. This trade represents a 20.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 269,243 shares of company stock worth $200,605,051. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

META opened at $785.23 on Friday. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.97 trillion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 1.62 and a beta of 1.27. The firm’s 50-day moving average price is $724.43 and its 200-day moving average price is $655.57.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The company had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. During the same quarter in the prior year, the company earned $5.16 EPS. Meta Platforms’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms’s dividend payout ratio is 7.60%.

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.