Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,609 shares of the social networking company’s stock after selling 813 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Meta Platforms were worth $1,631,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of META. Vanguard Group Inc. increased its position in shares of Meta Platforms by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after purchasing an additional 1,733,182 shares during the last quarter. FMR LLC boosted its holdings in shares of Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after buying an additional 5,001,647 shares during the period. Morgan Stanley boosted its holdings in shares of Meta Platforms by 3.4% in the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after buying an additional 1,184,978 shares during the period. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $4,223,148,000. Finally, Northern Trust Corp boosted its holdings in shares of Meta Platforms by 4.3% in the 3rd quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after buying an additional 946,871 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total value of $291,675.15. Following the completion of the sale, the insider now owns 37,813 shares in the company, valued at approximately $18,853,183.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $517.75, for a total transaction of $253,697.50. Following the transaction, the chief operating officer now owns 7,579 shares in the company, valued at approximately $3,924,027.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total transaction of $291,675.15. Following the transaction, the insider now owns 37,813 shares in the company, valued at approximately $18,853,183.67. The disclosure for this sale can be found here. Insiders sold a total of 1,421,182 shares of company stock worth $677,574,550 in the last quarter. 13.75% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on META shares. Canaccord Genuity Group lifted their price target on shares of Meta Platforms from $580.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James lifted their price target on shares of Meta Platforms from $450.00 to $550.00 and gave the company a “strong-buy” rating in a report on Friday, February 2nd. Morgan Stanley boosted their target price on shares of Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Truist Financial boosted their target price on shares of Meta Platforms from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Oppenheimer boosted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $519.53.

Meta Platforms Trading Down 4.1 %

Shares of NASDAQ:META traded down $20.73 during mid-day trading on Friday, hitting $481.07. The stock had a trading volume of 25,215,364 shares, compared to its average volume of 11,967,675. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The company has a market cap of $1.23 trillion, a PE ratio of 32.29, a P/E/G ratio of 1.27 and a beta of 1.20. Meta Platforms, Inc. has a 12-month low of $207.13 and a 12-month high of $531.49. The company’s 50 day moving average is $494.55 and its 200-day moving average is $398.64.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.00 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.42%. Meta Platforms’s payout ratio is 13.42%.

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.