Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Chiron Capital Management LLC

Chiron Capital Management LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 36.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 860 shares of the social networking company’s stock after selling 500 shares during the quarter. Chiron Capital Management LLC’s holdings in Meta Platforms were worth $418,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Quest Partners LLC purchased a new stake in Meta Platforms during the 4th quarter worth about $32,000. Clear Investment Research LLC increased its position in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC increased its position in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Cranbrook Wealth Management LLC increased its position in 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 in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in Meta Platforms during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the business’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 $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The disclosure for this sale can be found here. Insiders have sold a total of 310,933 shares of company stock valued at $154,451,206 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.4 %

Shares of META traded up $1.90 during trading on Tuesday, reaching $489.30. The company’s stock had a trading volume of 1,681,608 shares, compared to its average volume of 16,130,590. The company has a fifty day moving average of $493.79 and a two-hundred day moving average of $473.07. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. The company has a market cap of $1.24 trillion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 1.23 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

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 return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, sell-side analysts predict that Meta Platforms, Inc. will post 20.21 EPS for the current fiscal 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Roth Mkm lifted their price objective on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Truist Financial dropped their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group lowered their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada lowered their price target on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Oppenheimer lifted their price target on Meta Platforms from $500.00 to $525.00 and gave the company an “outperform” rating in a report on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $519.33.

About Meta Platforms

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.