Coston McIsaac & Partners Sells 414 Shares of Meta Platforms, Inc. (NASDAQ:META)

Coston McIsaac & Partners decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 15.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,299 shares of the social networking company’s stock after selling 414 shares during the quarter. Coston McIsaac & Partners’ holdings in Meta Platforms were worth $1,116,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% during the 3rd 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 during the last quarter. Quest Partners LLC bought a new stake in Meta Platforms during the 4th quarter worth about $32,000. Clear Investment Research LLC grew its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in Meta Platforms during the 4th quarter worth about $39,000. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the completion of the transaction, the insider now directly owns 38,983 shares of the company’s stock, valued at $18,906,755. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the completion of the transaction, the insider now directly owns 38,983 shares of the company’s stock, valued at $18,906,755. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction on Friday, April 12th. The stock was sold at an average price of $517.75, for a total transaction of $253,697.50. Following the transaction, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at $3,924,027.25. The disclosure for this sale can be found here. Insiders sold a total of 233,512 shares of company stock valued at $113,597,536 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Down 3.0 %

Shares of NASDAQ:META traded down $15.34 during midday trading on Friday, hitting $504.22. The stock had a trading volume of 15,855,137 shares, compared to its average volume of 11,400,792. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The business’s 50-day simple moving average is $480.00 and its 200-day simple moving average is $454.77. 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.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders 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 0.40%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Wall Street Analyst Weigh In

A number of brokerages have commented on META. Wedbush decreased their price objective on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Oppenheimer cut their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Raymond James upped their target price on shares of Meta Platforms from $525.00 to $550.00 and gave the company a “strong-buy” rating in a research report on Wednesday, June 5th. JPMorgan Chase & Co. cut their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $510.05.

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.