Sulzberger Capital Advisors Inc. Sells 72 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sulzberger Capital Advisors Inc. lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 14.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 425 shares of the social networking company’s stock after selling 72 shares during the period. Sulzberger Capital Advisors Inc.’s holdings in Meta Platforms were worth $245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Millstone Evans Group LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at $47,000. Finally, Conquis Financial LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at $59,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on META. Citigroup lifted their target price on Meta Platforms from $655.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Scotiabank dropped their price target on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group boosted their price objective on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Cantor Fitzgerald increased their target price on Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Finally, Roth Capital raised their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $702.48.

Insider Activity

In other news, COO Javier Olivan sold 406 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the transaction, the chief operating officer now directly owns 4,608 shares of the company’s stock, valued at $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,171 shares of company stock valued at $35,163,457 over the last ninety days. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $697.71 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average price is $587.67 and its two-hundred day moving average price is $615.18. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The firm has a market capitalization of $1.75 trillion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the firm posted $4.71 earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

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.