Aletheian Wealth Advisors LLC Acquires 2,727 Shares of Meta Platforms, Inc. (NASDAQ:META)

Aletheian Wealth Advisors LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 77.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,231 shares of the social networking company’s stock after purchasing an additional 2,727 shares during the quarter. Meta Platforms accounts for about 1.6% of Aletheian Wealth Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Aletheian Wealth Advisors LLC’s holdings in Meta Platforms were worth $3,026,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Stone House Investment Management LLC boosted its holdings 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 buying an additional 75 shares during the period. Quest Partners LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC boosted its holdings in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $39,000. Finally, Cranbrook Wealth Management LLC boosted its holdings in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $519.56 on Friday. The company has a fifty day moving average of $479.53 and a 200-day moving average of $452.69. The firm has a market capitalization of $1.32 trillion, a P/E ratio of 29.84, a P/E/G ratio of 1.33 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49.

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 the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

META has been the subject of several research analyst reports. Canaccord Genuity Group reduced their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Guggenheim reduced their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus increased their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Robert W. Baird reduced their target price on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.05.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the transaction, the insider now directly owns 38,983 shares of the company’s stock, valued at approximately $18,906,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the transaction, the chief executive officer now directly owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $485.00, for a total transaction of $283,725.00. Following the completion of the transaction, the insider now directly owns 38,983 shares in the company, valued at $18,906,755. The disclosure for this sale can be found here. Insiders have sold 233,512 shares of company stock valued at $113,597,536 in the last three months. 13.71% of the stock is currently owned by insiders.

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.