Leo Wealth LLC Makes New $1.62 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Leo Wealth LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,265 shares of the social networking company’s stock, valued at approximately $1,615,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stone House Investment Management LLC increased its stake in shares of 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 purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $32,000. Clear Investment Research LLC increased its stake in shares of Meta Platforms by 411.1% during the 4th 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 during the last quarter. Finally, Cranbrook Wealth Management LLC increased its stake in shares of Meta Platforms by 80.4% during the 4th 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 last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. UBS Group dropped their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Guggenheim dropped 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. Finally, The Goldman Sachs Group dropped their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $510.41.

Meta Platforms Stock Up 0.5 %

Meta Platforms stock opened at $506.63 on Tuesday. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. The firm’s fifty day moving average price is $480.14 and its two-hundred day moving average price is $444.30. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, equities research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $503.34, for a total transaction of $8,406,784.68. Following the transaction, the chief executive officer now directly owns 275,297 shares of the company’s stock, valued at $138,567,991.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $503.34, for a total transaction of $8,406,784.68. Following the transaction, the chief executive officer now directly owns 275,297 shares of the company’s stock, valued at $138,567,991.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Insiders have sold 422,564 shares of company stock valued at $208,591,435 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Profile

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.