Clarity Financial LLC Has $530,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Clarity Financial LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,091 shares of the social networking company’s stock after selling 66 shares during the quarter. Clarity Financial LLC’s holdings in Meta Platforms were worth $530,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter valued at approximately $11,285,855,000. International Assets Investment Management LLC boosted its holdings in shares of Meta Platforms by 11,154.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after buying an additional 4,908,251 shares during the period. Capital Research Global Investors boosted its holdings in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares during the period. Concentrum Wealth Management increased its position in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $486.75, for a total transaction of $238,507.50. Following the completion of the transaction, the chief operating officer now owns 8,559 shares of the company’s stock, valued at $4,166,093.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 232,607 shares of company stock valued at $113,147,760. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

META opened at $519.26 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The business has a fifty day simple moving average of $479.18 and a 200 day simple moving average of $452.22. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The company has a market capitalization of $1.32 trillion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating 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 company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Research analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms’s payout ratio is presently 11.49%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on META shares. BNP Paribas began coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price for the company. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Royal Bank of Canada dropped their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. JMP Securities reaffirmed a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $510.05.

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.