Meta Platforms, Inc. (NASDAQ:META) Holdings Cut by Muirfield Wealth Advisors LLC

Muirfield Wealth Advisors LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,508 shares of the social networking company’s stock after selling 38 shares during the quarter. Meta Platforms makes up about 1.2% of Muirfield Wealth Advisors LLC’s holdings, making the stock its 19th biggest position. Muirfield Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Investment Advisory Group LLC lifted its position in Meta Platforms by 6.6% in the 1st quarter. Investment Advisory Group LLC now owns 2,998 shares of the social networking company’s stock worth $1,728,000 after buying an additional 185 shares in the last quarter. Everest Management Corp. lifted its position in Meta Platforms by 29.1% in the 1st quarter. Everest Management Corp. now owns 1,179 shares of the social networking company’s stock worth $680,000 after buying an additional 266 shares in the last quarter. Tounjian Advisory Partners LLC purchased a new stake in Meta Platforms in the 1st quarter worth approximately $10,710,000. Northstar Advisory Group LLC lifted its position in Meta Platforms by 8.0% in the 1st quarter. Northstar Advisory Group LLC now owns 8,125 shares of the social networking company’s stock worth $4,683,000 after buying an additional 600 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its stake in shares of Meta Platforms by 14.8% during the 1st quarter. Pallas Capital Advisors LLC now owns 22,934 shares of the social networking company’s stock worth $13,218,000 after purchasing an additional 2,950 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $607.50, for a total value of $369,360.00. Following the completion of the transaction, the chief operating officer now directly owns 7,446 shares of the company’s stock, valued at approximately $4,523,445. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total transaction of $552,830.25. Following the completion of the transaction, the insider now directly owns 32,103 shares of the company’s stock, valued at approximately $19,269,825.75. This represents a 2.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,104 shares of company stock valued at $35,270,242 in the last ninety days. Insiders own 13.61% of the company’s stock.

Meta Platforms Trading Down 0.5%

Shares of META stock opened at $694.06 on Tuesday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a market capitalization of $1.75 trillion, a P/E ratio of 29.02, a P/E/G ratio of 1.42 and a beta of 1.26. The firm has a 50-day moving average price of $589.87 and a 200 day moving average price of $616.49. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the firm posted $4.71 EPS. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. Research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued 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 is currently 8.19%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on META shares. Citigroup increased their price target on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. TD Securities dropped their price target on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Pivotal Research dropped their price target on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, Jefferies Financial Group dropped their price target on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company 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.