Sculati Wealth Management LLC Has $4.26 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Sculati Wealth Management LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,774 shares of the social networking company’s stock after selling 110 shares during the period. Meta Platforms accounts for about 1.8% of Sculati Wealth Management LLC’s investment portfolio, making the stock its 12th biggest holding. Sculati Wealth Management LLC’s holdings in Meta Platforms were worth $4,260,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of META. Vanguard Group Inc. lifted its holdings in Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors lifted its holdings in Meta Platforms by 2.5% during the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares during the last quarter. Capital International Investors lifted its holdings in Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the last quarter. Norges Bank bought a new position in Meta Platforms during the 4th quarter worth $11,285,855,000. Finally, Capital Research Global Investors increased its stake in Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the transaction, the insider now directly owns 35,130 shares of the company’s stock, valued at $17,206,674. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total transaction of $443,269.00. Following the completion of the sale, the insider now owns 35,130 shares of the company’s stock, valued at $17,206,674. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $474.86, for a total value of $195,642.32. Following the sale, the chief operating officer now owns 5,971 shares in the company, valued at approximately $2,835,389.06. The disclosure for this sale can be found here. Insiders sold 311,348 shares of company stock valued at $154,678,120 over the last three months. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Benchmark restated a “hold” rating on shares of Meta Platforms in a research note on Thursday. Citigroup lowered their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Oppenheimer raised their price objective on Meta Platforms from $500.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Jefferies Financial Group lowered their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, JMP Securities restated a “market outperform” rating and set a $550.00 price objective on shares of Meta Platforms in a research note on Monday, April 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $525.66.

Meta Platforms Stock Performance

Shares of META traded up $12.77 on Friday, reaching $466.18. 5,818,628 shares of the company’s stock traded hands, compared to its average volume of 16,138,218. 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 stock has a market cap of $1.18 trillion, a PE ratio of 26.53, a PEG ratio of 1.19 and a beta of 1.21. The stock’s 50 day simple moving average is $493.33 and its two-hundred day simple moving average is $473.80. 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 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 return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, analysts forecast that Meta Platforms, Inc. will post 20.23 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

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.