Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,379 shares of the social networking company’s stock after acquiring an additional 24 shares during the period. Monterey Private Wealth Inc.’s holdings in Meta Platforms were worth $670,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in META. Stone House Investment Management LLC boosted its holdings in Meta Platforms by 625.0% in 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 in the last quarter. Beaird Harris Wealth Management LLC boosted 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 acquiring an additional 42 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $32,000. Clear Investment Research LLC boosted 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 acquiring an additional 74 shares in the last quarter. Finally, Cranbrook Wealth Management LLC boosted 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 acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $501.70 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a 50-day moving average of $479.38 and a two-hundred day moving average of $445.90. The stock has a market cap of $1.27 trillion, a P/E ratio of 28.82, a PEG ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last posted 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. The company had revenue of $36.46 billion during 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, research analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be given a $0.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. Meta Platforms’s payout ratio is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $505.29, for a total value of $295,594.65. Following the completion of the transaction, the insider now directly owns 39,568 shares of the company’s stock, valued at approximately $19,993,314.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Nicholas Clegg sold 1,135 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $535,549.75. Following the transaction, the insider now owns 8,753 shares of the company’s stock, valued at $4,130,103.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $505.29, for a total transaction of $295,594.65. Following the transaction, the insider now directly owns 39,568 shares in the company, valued at approximately $19,993,314.72. The disclosure for this sale can be found here. Insiders sold a total of 313,169 shares of company stock valued at $153,344,736 in the last ninety days. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on META shares. Jefferies Financial Group decreased their price target on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wolfe Research decreased their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft reduced their target price on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Royal Bank of Canada reduced their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $510.05.

Meta Platforms Company 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.