452 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Soundmark Wealth Management LLC

Soundmark Wealth Management LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 452 shares of the social networking company’s stock, valued at approximately $220,000.

Several other institutional investors have also added to or reduced their stakes in META. Stone House Investment Management LLC lifted its holdings in Meta Platforms by 625.0% in the third 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 during the period. Beaird Harris Wealth Management LLC raised its position in shares of Meta Platforms by 68.9% in 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 position in shares of Meta Platforms in the 4th quarter valued at approximately $32,000. Clear Investment Research LLC boosted its position in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Finally, Cranbrook Wealth Management LLC raised its holdings 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 in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 31,493 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $492.14, for a total value of $15,498,965.02. The sale was disclosed in a filing with the SEC, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 31,493 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $492.14, for a total value of $15,498,965.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,169 shares of company stock valued at $153,344,736. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on META. Raymond James upped their target price on shares of Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, June 5th. Citigroup decreased their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Robert W. Baird cut their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, Truist Financial dropped their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $510.05.

Meta Platforms Stock Performance

NASDAQ:META opened at $494.78 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 company has a market cap of $1.26 trillion, a price-to-earnings ratio of 28.42, 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. The stock’s 50 day simple moving average is $478.61 and its two-hundred day simple moving average is $447.50.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results 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 firm 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%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

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.