Hillsdale Investment Management Inc. Sells 950 Shares of Meta Platforms, Inc. (NASDAQ:META)

Hillsdale Investment Management Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 17.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,617 shares of the social networking company’s stock after selling 950 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Meta Platforms were worth $2,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Catalytic Wealth RIA LLC boosted its position in shares of Meta Platforms by 24.3% during the 1st quarter. Catalytic Wealth RIA LLC now owns 7,131 shares of the social networking company’s stock valued at $3,463,000 after acquiring an additional 1,396 shares during the last quarter. Northern Capital Management Inc. raised its holdings in Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after buying an additional 21 shares during the period. Edgestream Partners L.P. increased its stake in Meta Platforms by 6.4% in the first quarter. Edgestream Partners L.P. now owns 35,119 shares of the social networking company’s stock worth $17,053,000 after purchasing an additional 2,113 shares during the period. Nicola Wealth Management LTD. purchased a new stake in Meta Platforms in the first quarter worth $14,082,000. Finally, Cercano Management LLC bought a new position in shares of Meta Platforms during the 1st quarter worth $26,805,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Up 2.2 %

META traded up $10.61 during trading on Monday, reaching $487.40. 12,011,610 shares of the company’s stock were exchanged, compared to its average volume of 16,234,402. The company’s fifty day moving average price is $493.79 and its 200-day moving average price is $473.07. 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, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $542.81. The firm has a market capitalization of $1.24 trillion, a PE ratio of 28.00, a P/E/G ratio of 1.23 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.21 EPS for the current year.

Meta Platforms Announces Dividend

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 0.41%. Meta Platforms’s payout ratio is presently 11.49%.

Analysts Set New Price Targets

META has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wedbush reduced their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Barclays reduced their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. UBS Group cut their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $550.00 price target on shares of Meta Platforms in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $519.33.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 311,518 shares of company stock valued at $154,738,587. Company insiders own 13.71% of the company’s stock.

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.