Ossiam Sells 721,118 Shares of Meta Platforms, Inc. (NASDAQ:META)

Ossiam lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 80.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,632 shares of the social networking company’s stock after selling 721,118 shares during the period. Meta Platforms makes up 1.5% of Ossiam’s investment portfolio, making the stock its 19th largest holding. Ossiam’s holdings in Meta Platforms were worth $82,855,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Meta Platforms during the first quarter valued at approximately $44,000. Finally, Clear Investment Research LLC raised its holdings in shares of Meta Platforms by 411.1% during the fourth 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 during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Royal Bank of Canada reduced their target price on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Raymond James upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday, July 1st. Loop Capital reaffirmed a “buy” rating and set a $550.00 target price on shares of Meta Platforms in a report on Wednesday, July 3rd. Stifel Nicolaus upped their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Robert W. Baird dropped their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $525.66.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total transaction of $483,224.75. Following the completion of the transaction, the insider now directly owns 36,940 shares of the company’s stock, valued at approximately $19,724,113. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total value of $483,224.75. Following the completion of the sale, the insider now owns 36,940 shares of the company’s stock, valued at approximately $19,724,113. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Insiders sold a total of 311,348 shares of company stock valued at $154,678,120 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

META stock traded up $7.64 during trading on Friday, reaching $461.05. The company had a trading volume of 3,103,035 shares, compared to its average volume of 16,119,228. The firm has a 50-day simple moving average of $493.33 and a 200-day simple moving average of $473.80. The company has a market cap of $1.17 trillion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.21. 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 twelve month low of $274.38 and a twelve month high of $542.81.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 20.23 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 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.