Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. lowered its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,047 shares of the social networking company’s stock after selling 774 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Meta Platforms were worth $2,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in META. Stone House Investment Management LLC increased its position in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC increased its position in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Quest Partners LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $32,000. Clear Investment Research LLC lifted its holdings in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Finally, Cranbrook Wealth Management LLC boosted its stake in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock traded up $0.56 during trading on Friday, hitting $504.16. The company had a trading volume of 10,243,347 shares, compared to its average volume of 10,607,878. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 1.31 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 business has a 50 day moving average of $480.39 and a 200 day moving average of $441.54. Meta Platforms, Inc. has a fifty-two week low of $271.42 and a fifty-two week high of $531.49.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping 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 firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on META shares. KeyCorp decreased their price objective on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Stifel Nicolaus lifted their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada cut their price objective on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Wells Fargo & Company lowered their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $510.41.

View Our Latest Stock Report on Meta Platforms

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $500.00, for a total value of $452,500.00. Following the transaction, the insider now directly owns 40,560 shares in the company, valued at approximately $20,280,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $500.00, for a total value of $452,500.00. Following the completion of the transaction, the insider now directly owns 40,560 shares in the company, valued at $20,280,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $441.54, for a total transaction of $216,354.60. Following the sale, the chief operating officer now owns 6,599 shares in the company, valued at approximately $2,913,722.46. The disclosure for this sale can be found here. Insiders sold a total of 437,528 shares of company stock valued at $215,768,262 over the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Profile

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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