CORDA Investment Management LLC. Sells 174 Shares of Meta Platforms, Inc. (NASDAQ:META)

CORDA Investment Management LLC. lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.9% during the 1st quarter, HoldingsChannel reports. The fund owned 3,372 shares of the social networking company’s stock after selling 174 shares during the period. CORDA Investment Management LLC.’s holdings in Meta Platforms were worth $1,943,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Suvretta Capital Management LLC boosted its position in shares of Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after purchasing an additional 1,850 shares in the last quarter. Skye Global Management LP raised its stake in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after buying an additional 43,200 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock worth $1,001,044,000 after acquiring an additional 1,229,350 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Meta Platforms by 25.1% in the fourth quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company’s stock worth $215,760,000 after acquiring an additional 73,907 shares during the last quarter. Finally, Arcadia Wealth Management Inc. bought a new position in shares of Meta Platforms during the fourth quarter valued at $600,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 1.3%

Meta Platforms stock opened at $717.51 on Friday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90. The firm has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 1.76 and a beta of 1.28. The firm has a 50 day moving average of $674.77 and a 200 day moving average of $634.35. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same period in the prior year, the company posted $4.71 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms’s dividend payout ratio is presently 8.19%.

Analyst Ratings Changes

META has been the topic of a number of analyst reports. Morgan Stanley upped their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Scotiabank dropped their target price on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a research note on Monday, April 21st. Barclays cut their price target on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Needham & Company LLC upgraded shares of Meta Platforms from an “underperform” rating to a “hold” rating in a report on Thursday, July 3rd. Finally, DA Davidson lowered their price objective on Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $729.38.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the sale, the chief financial officer directly owned 70,040 shares of the company’s stock, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,792 shares of company stock valued at $105,466,325 over the last 90 days. Company insiders own 13.61% 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.