Meta Platforms, Inc. (NASDAQ:META) Shares Sold by American International Group Inc.

American International Group Inc. cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 671,466 shares of the social networking company’s stock after selling 13,867 shares during the period. Meta Platforms comprises approximately 1.2% of American International Group Inc.’s holdings, making the stock its 7th largest holding. American International Group Inc.’s holdings in Meta Platforms were worth $326,050,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in Meta Platforms in the fourth quarter worth $32,000. Clear Investment Research LLC increased its position in shares of 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 during the last quarter. Delos Wealth Advisors LLC grew its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. Cranbrook Wealth Management LLC lifted its holdings 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 during the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META stock traded down $1.16 during midday trading on Thursday, hitting $460.11. The company had a trading volume of 11,577,095 shares, compared to its average volume of 16,163,966. The stock has a market cap of $1.17 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.26 and a beta of 1.21. 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 company’s 50 day simple moving average is $493.72 and its 200 day simple moving average is $473.94. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81.

Meta Platforms (NASDAQ:META) last released 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. 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. Research analysts anticipate that Meta Platforms, Inc. will post 20.23 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on META. KeyCorp boosted their price target on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Sanford C. Bernstein upped their price objective on Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research note on Monday. Barclays reduced their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $521.48.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the transaction, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction dated Wednesday, May 29th. The stock was 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 of the company’s stock, valued at approximately $300,466,976.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the sale, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. Insiders sold a total of 310,933 shares of company stock valued at $154,451,206 in the last ninety days. Corporate 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.