Matrix Asset Advisors Inc. NY Reduces Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Matrix Asset Advisors Inc. NY lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,238 shares of the social networking company’s stock after selling 549 shares during the quarter. Meta Platforms comprises about 2.5% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 15th largest holding. Matrix Asset Advisors Inc. NY’s holdings in Meta Platforms were worth $20,793,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. S.A. Mason LLC boosted its position in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares during the period. Horizon Bancorp Inc. IN boosted its holdings in Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares during the period. Northern Capital Management Inc. grew its position in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after purchasing an additional 21 shares during the last quarter. LongView Wealth Management increased its holdings in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares during the period. Finally, Hanson & Doremus Investment Management raised its position in shares of Meta Platforms by 5.3% during the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.4 %

NASDAQ META traded down $1.82 during trading hours on Monday, hitting $515.95. The company’s stock had a trading volume of 9,758,071 shares, compared to its average volume of 16,443,930. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. The firm has a market capitalization of $1.31 trillion, a P/E ratio of 29.64, a PEG ratio of 1.27 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average of $497.26 and a 200 day moving average of $484.74.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the business posted $3.23 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts forecast that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on META shares. Susquehanna lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Truist Financial upped their target price on Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their target price on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group increased their price objective on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Roth Mkm raised their price objective on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $572.51.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Peggy Alford sold 1,052 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $479.00, for a total value of $503,908.00. Following the completion of the transaction, the director now directly owns 6,168 shares of the company’s stock, valued at approximately $2,954,472. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 319,158 shares of company stock worth $158,629,849. 13.71% of the stock is currently owned by company insiders.

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.