Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 44.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,077 shares of the social networking company’s stock after selling 2,452 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Meta Platforms were worth $1,089,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Addison Advisors LLC lifted its holdings in shares of Meta Platforms by 3.9% in the 4th quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after buying an additional 25 shares during the period. WoodTrust Financial Corp raised its holdings in Meta Platforms by 1.8% during the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after purchasing an additional 27 shares during the last quarter. Tennessee Valley Asset Management Partners raised its holdings in Meta Platforms by 0.6% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after purchasing an additional 27 shares during the last quarter. Peterson Wealth Advisors LLC raised its holdings in Meta Platforms by 1.9% during the fourth quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after purchasing an additional 28 shares during the last quarter. Finally, Edge Wealth Management LLC raised its holdings in Meta Platforms by 4.0% during the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after purchasing an additional 28 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total value of $7,751,361.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,276,482 shares of company stock valued at $620,451,095. 13.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on META. Bank of America lifted their price objective on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $550.00 price objective on shares of Meta Platforms in a report on Monday, April 22nd. Stifel Nicolaus raised their price target on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Citigroup dropped their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lowered their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $509.18.

Meta Platforms Stock Down 0.6 %

Meta Platforms stock traded down $2.45 during midday trading on Tuesday, hitting $430.17. The stock had a trading volume of 18,396,504 shares, compared to its average volume of 18,427,248. 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 stock has a market cap of $1.10 trillion, a P/E ratio of 24.71, a P/E/G ratio of 1.15 and a beta of 1.20. Meta Platforms, Inc. has a 12 month low of $229.85 and a 12 month high of $531.49. The business has a fifty day moving average price of $492.83 and a 200 day moving average price of $406.97.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Research analysts predict that Meta Platforms, Inc. will post 20.2 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.