Affinity Capital Advisors LLC Sells 401 Shares of Meta Platforms, Inc. (NASDAQ:META)

Affinity Capital Advisors LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 6.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,032 shares of the social networking company’s stock after selling 401 shares during the period. Affinity Capital Advisors LLC’s holdings in Meta Platforms were worth $2,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Madison Wealth Partners Inc grew its stake in Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after purchasing an additional 23 shares during the last quarter. Monterey Private Wealth Inc. lifted its holdings in shares of Meta Platforms by 1.8% during the first quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock worth $670,000 after purchasing an additional 24 shares during the period. Grandview Asset Management LLC boosted its position in Meta Platforms by 0.3% in the first quarter. Grandview Asset Management LLC now owns 8,549 shares of the social networking company’s stock valued at $4,151,000 after buying an additional 24 shares during the last quarter. Addison Advisors LLC increased its holdings in Meta Platforms by 3.9% in the 4th quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock worth $237,000 after buying an additional 25 shares during the period. Finally, Smithfield Trust Co raised its holdings in shares of Meta Platforms by 0.5% during the fourth quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company’s stock worth $1,730,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the transaction, the chief technology officer now owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,638 shares of company stock worth $115,205,996. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Loop Capital decreased their price target on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. UBS Group lowered their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Robert W. Baird lowered their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $510.05.

Meta Platforms Trading Up 2.3 %

META traded up $11.69 during mid-day trading on Tuesday, hitting $510.60. 12,085,794 shares of the stock were exchanged, compared to its average volume of 16,564,148. The company has a market cap of $1.30 trillion, a PE ratio of 29.06, a PEG ratio of 1.28 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average is $478.58 and its two-hundred day moving average is $450.54. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Equities analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Meta Platforms 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.