Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cooper Haims Advisors LLC

Cooper Haims Advisors LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.9% during the 1st quarter, Holdings Channel reports. The firm owned 1,226 shares of the social networking company’s stock after selling 77 shares during the quarter. Cooper Haims Advisors LLC’s holdings in Meta Platforms were worth $595,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Baird Financial Group Inc. grew its holdings in Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after purchasing an additional 163,067 shares during the period. California State Teachers Retirement System boosted its stake in shares of Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares during the last quarter. Donoghue Forlines LLC boosted its stake in shares of Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after acquiring an additional 4,054 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after acquiring an additional 32,423 shares during the last quarter. Finally, Voyager Global Management LP boosted its stake in shares of Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. KeyCorp lifted their target price on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Piper Sandler restated an “overweight” rating and issued a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a report on Monday, April 22nd. Finally, TD Securities boosted their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $519.10.

Meta Platforms Stock Performance

Shares of META stock traded up $0.94 during trading hours on Friday, reaching $476.79. 15,149,416 shares of the company’s stock were exchanged, compared to its average volume of 13,694,282. The company has a market cap of $1.21 trillion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21. The company’s 50 day moving average is $493.41 and its two-hundred day moving average is $471.18. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.21 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the transaction, the insider now directly owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the sale, the insider now owns 37,228 shares in the company, valued at approximately $18,288,255. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 2,011 shares of the 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 sale, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Insiders sold 311,106 shares of company stock valued at $154,542,945 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

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.