715 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Wealth Management Partners LLC

Wealth Management Partners LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 715 shares of the social networking company’s stock, valued at approximately $347,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC increased its stake in shares of 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 valued at $26,000 after purchasing an additional 75 shares during the period. Quest Partners LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC increased its stake 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 acquiring an additional 74 shares during the period. Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at approximately $39,000. Finally, Cranbrook Wealth Management LLC increased its stake in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Susan J. Li sold 8,951 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 74,580 shares in the company, valued at $35,190,573. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,145 shares of company stock worth $99,707,031. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $510.60 on Wednesday. The company has a market cap of $1.30 trillion, a price-to-earnings ratio of 29.33, a PEG ratio of 1.28 and a beta of 1.21. The firm’s 50-day moving average is $478.80 and its 200-day moving average is $451.80. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last posted its earnings results 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 business 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%. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared 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 0.39%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wolfe Research lowered their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Raymond James lifted their price target 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. Finally, Royal Bank of Canada decreased their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $510.05.

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.