Tealwood Asset Management Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 16.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,168 shares of the social networking company’s stock after selling 1,574 shares during the period. Meta Platforms comprises about 1.8% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Tealwood Asset Management Inc.’s holdings in Meta Platforms were worth $3,966,000 at the end of the most recent quarter.
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Several other large investors have also made changes to their positions in the business. Soundmark Wealth Management LLC purchased a new position in shares of Meta Platforms in the first quarter valued at about $220,000. PFW Advisors LLC increased its holdings in shares of Meta Platforms by 1.4% in the first quarter. PFW Advisors LLC now owns 2,119 shares of the social networking company’s stock worth $1,029,000 after purchasing an additional 29 shares during the last quarter. MCIA Inc bought a new stake in shares of Meta Platforms in the first quarter worth about $293,000. Walden Wealth Partners LLC bought a new stake in shares of Meta Platforms in the first quarter worth about $239,000. Finally, BTC Capital Management Inc. bought a new stake in shares of Meta Platforms in the first quarter worth about $13,448,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
META has been the topic of several research reports. Barclays reduced their target price on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. TD Cowen decreased their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group reduced their price target on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Guggenheim reduced their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $510.05.
Check Out Our Latest Stock Report on META
Meta Platforms Stock Performance
NASDAQ META opened at $494.78 on Friday. The stock has a 50-day simple moving average of $478.61 and a two-hundred day simple moving average of $448.41. The firm has a market capitalization of $1.26 trillion, a P/E ratio of 28.42, a PEG ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating 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 business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.
Insider Buying and Selling
In other news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $504.82, for a total value of $39,079,125.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,169 shares of company stock worth $153,344,736. Insiders own 13.71% of the company’s stock.
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.
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