InterOcean Capital Group LLC Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

InterOcean Capital Group LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,054 shares of the social networking company’s stock after selling 1,123 shares during the period. InterOcean Capital Group LLC’s holdings in Meta Platforms were worth $6,825,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth about $32,000. Clear Investment Research LLC increased its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC increased its stake in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of 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 in the last quarter. Finally, Gilfoyle & Co LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total transaction of $483,224.75. Following the transaction, the insider now owns 36,940 shares in the company, valued at approximately $19,724,113. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total transaction of $483,224.75. Following the transaction, the insider now owns 36,940 shares in the company, valued at approximately $19,724,113. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $441.54, for a total transaction of $216,354.60. Following the transaction, the chief operating officer now owns 6,599 shares in the company, valued at approximately $2,913,722.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 310,933 shares of company stock worth $154,451,206. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 1.7 %

Meta Platforms stock traded down $7.86 during mid-day trading on Thursday, reaching $453.41. The stock had a trading volume of 18,227,129 shares, compared to its average volume of 16,210,694. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 26.39, a PEG ratio of 1.26 and a beta of 1.21. The company has a 50-day moving average price of $493.72 and a two-hundred day moving average price of $473.94. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, analysts expect that Meta Platforms, Inc. will post 20.23 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on META shares. Jefferies Financial Group reduced their target price on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wedbush reaffirmed an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research note on Wednesday. Guggenheim reduced their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. reduced their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $521.48.

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.