Delta Investment Management LLC Sells 46 Shares of Meta Platforms, Inc. (NASDAQ:META)

Delta Investment Management LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,687 shares of the social networking company’s stock after selling 46 shares during the quarter. Delta Investment Management LLC’s holdings in Meta Platforms were worth $597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC lifted its holdings 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 worth $26,000 after buying an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its stake in shares of 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 acquiring an additional 42 shares during the period. PayPay Securities Corp increased its position in Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the period. Cranbrook Wealth Management LLC increased its position in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Finally, Gilfoyle & Co LLC acquired a new position in Meta Platforms during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on META. Wells Fargo & Company lowered their price target on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Tigress Financial increased their price target on Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research note on Friday, February 9th. Canaccord Genuity Group lifted their price objective on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Guggenheim cut their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada decreased their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $509.18.

Meta Platforms Price Performance

Shares of META opened at $443.29 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The company’s fifty day simple moving average is $494.48 and its 200 day simple moving average is $404.85. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.13 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced 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 company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, research analysts forecast that Meta Platforms, Inc. will post 20.2 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.45%. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 6,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $400.00, for a total transaction of $2,600,000.00. Following the completion of the transaction, the chief operating officer now owns 68,935 shares in the company, valued at $27,574,000. The disclosure for this sale can be found here. Insiders have sold 1,349,148 shares of company stock worth $649,552,559 over the last 90 days. Company insiders own 13.75% of the company’s stock.

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.