Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Jacksonville Wealth Management LLC

Jacksonville Wealth Management LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,571 shares of the social networking company’s stock after selling 60 shares during the period. Meta Platforms accounts for approximately 1.5% of Jacksonville Wealth Management LLC’s holdings, making the stock its 20th biggest position. Jacksonville Wealth Management LLC’s holdings in Meta Platforms were worth $1,482,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of META. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC lifted its stake in shares of Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock worth $28,719,970,000 after acquiring an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares in the last quarter. Capital World Investors raised its holdings in shares of Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $19,949,512,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

META stock opened at $682.87 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm has a 50 day moving average of $604.07 and a two-hundred day moving average of $619.26.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms’s dividend payout ratio is 8.19%.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research reports. UBS Group boosted their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Bank of America boosted their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday. Roth Capital boosted 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. Evercore ISI boosted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Finally, Loop Capital boosted their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a “buy” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $704.26.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 608 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the sale, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $701.00, for a total transaction of $363,819.00. Following the sale, the insider now directly owns 29,183 shares of the company’s stock, valued at approximately $20,457,283. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,201 shares of company stock valued at $56,377,837 over the last ninety days. Corporate insiders own 13.61% of the company’s stock.

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.