Quintet Private Bank Europe S.A. Sells 774 Shares of Meta Platforms, Inc. (NASDAQ:META)

Quintet Private Bank Europe S.A. lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,047 shares of the social networking company’s stock after selling 774 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Meta Platforms were worth $2,140,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC lifted its position in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC raised its holdings in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Quest Partners LLC acquired a new position in Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC boosted its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC grew its stake in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on META. JPMorgan Chase & Co. cut their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Sanford C. Bernstein lowered their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Robert W. Baird cut their target price on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group reduced their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $510.41.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $0.56 during trading on Friday, reaching $504.16. 10,243,347 shares of the company’s stock were exchanged, compared to its average volume of 10,607,878. The firm’s 50-day moving average price is $480.39 and its 200 day moving average price is $441.54. The company has a market cap of $1.28 trillion, a P/E ratio of 28.96, a PEG ratio of 1.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 1-year low of $271.42 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, research analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity at Meta Platforms

In other news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The disclosure for this sale can be found here. Insiders have sold a total of 437,528 shares of company stock valued at $215,768,262 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

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.