AGH Wealth Advisors LLC Sells 59 Shares of Meta Platforms, Inc. (NASDAQ:META)

AGH Wealth Advisors LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,556 shares of the social networking company’s stock after selling 59 shares during the quarter. Meta Platforms makes up approximately 2.0% of AGH Wealth Advisors LLC’s holdings, making the stock its 12th biggest position. AGH Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,050,000 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. Suvretta Capital Management LLC raised its holdings in shares of Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP raised its holdings in shares of Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Brueske Advisory Services LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $459,000. Apollon Financial LLC raised its holdings in shares of Meta Platforms by 11.1% during the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after acquiring an additional 148 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock worth $1,001,044,000 after acquiring an additional 1,229,350 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of META stock opened at $697.71 on Friday. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The stock’s 50-day moving average is $587.67 and its 200 day moving average is $614.84. The company has a market cap of $1.75 trillion, a P/E ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the company earned $4.71 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s payout ratio is currently 8.19%.

Insiders Place Their Bets

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer now owns 70,040 shares of the company’s stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares of the company’s stock, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,171 shares of company stock valued at $35,163,457. 13.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

META has been the topic of several recent research reports. Cantor Fitzgerald upped their price objective on Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Stifel Nicolaus upped their price objective on Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Loop Capital increased their price target on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday, May 16th. JMP Securities restated a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. Finally, Benchmark lowered their price target on Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $702.48.

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.