LGL Partners LLC Cuts Position in Meta Platforms, Inc. (NASDAQ:META)

LGL Partners LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 71.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,755 shares of the social networking company’s stock after selling 6,888 shares during the quarter. LGL Partners LLC’s holdings in Meta Platforms were worth $975,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of META. Stone House Investment Management LLC boosted 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 valued at $26,000 after purchasing an additional 75 shares during the period. Gilfoyle & Co LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $39,000. Cranbrook Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 45 shares during the last quarter. Beaird Harris Wealth Management LLC raised its position 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 valued at $31,000 after buying an additional 42 shares during the period. Finally, PayPay Securities Corp raised its position in Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 0.0 %

Shares of NASDAQ:META traded up $0.16 during midday trading on Tuesday, reaching $432.78. The company had a trading volume of 12,853,144 shares, compared to its average volume of 18,357,072. The business’s 50 day moving average price is $493.66 and its 200 day moving average price is $406.15. The stock has a market cap of $1.10 trillion, a PE ratio of 25.08, a P/E/G ratio of 1.15 and a beta of 1.20. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for 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%. Research analysts forecast that Meta Platforms, Inc. will post 20.2 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on META shares. Mizuho upped their target price on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Citigroup lowered their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Wedbush decreased their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. JMP Securities restated a “market outperform” rating and set a $550.00 target price on shares of Meta Platforms in a research note on Monday, April 22nd. Finally, Raymond James reduced their price objective on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total value of $7,751,361.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total value of $256,128.00. Following the completion of the sale, the insider now directly owns 34,168 shares in the company, valued at $15,853,952. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total value of $7,751,361.85. The disclosure for this sale can be found here. Insiders have sold a total of 1,276,482 shares of company stock valued at $620,451,095 over the last 90 days. 13.71% of the stock is currently owned by insiders.

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.