Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Garrison Asset Management LLC

Garrison Asset Management LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,276 shares of the social networking company’s stock after selling 55 shares during the period. Meta Platforms comprises about 1.6% of Garrison Asset Management LLC’s portfolio, making the stock its 23rd largest holding. Garrison Asset Management LLC’s holdings in Meta Platforms were worth $3,048,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Quest Partners LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC lifted its stake in shares of Meta Platforms by 411.1% in the 4th 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 period. Delos Wealth Advisors LLC boosted its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. Cranbrook Wealth Management LLC grew its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock traded up $0.94 on Friday, reaching $476.79. The company had a trading volume of 15,149,416 shares, compared to its average volume of 13,694,282. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The company’s fifty day moving average is $493.41 and its 200 day moving average is $471.18. The company has a market cap of $1.21 trillion, a P/E ratio of 27.39, a PEG ratio of 1.23 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, research analysts forecast that Meta Platforms, Inc. will post 20.21 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Insider Activity

In related news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at $7,268,235.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $501.42, for a total value of $453,785.10. Following the transaction, the insider now directly owns 36,035 shares in the company, valued at approximately $18,068,669.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at $7,268,235.20. The disclosure for this sale can be found here. Insiders sold a total of 311,106 shares of company stock valued at $154,542,945 over the last quarter. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on META. JMP Securities restated a “market outperform” rating and set a $550.00 target price on shares of Meta Platforms in a research report on Monday, April 22nd. Royal Bank of Canada cut their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Truist Financial decreased their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and issued a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Finally, TD Cowen increased their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $519.10.

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.