Eagle Wealth Strategies LLC Acquires Shares of 650 Meta Platforms, Inc. (NASDAQ:META)

Eagle Wealth Strategies LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 650 shares of the social networking company’s stock, valued at approximately $319,000.

A number of other large investors have also made changes to their positions in META. Stone House Investment Management LLC grew 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 buying an additional 75 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC increased its position in Meta Platforms by 411.1% during the fourth 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. Gilfoyle & Co LLC purchased a new position in Meta Platforms during the fourth quarter worth about $39,000. Finally, Cranbrook Wealth Management LLC boosted its holdings in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $485.00, for a total value of $283,725.00. Following the sale, the insider now owns 38,983 shares of the company’s stock, valued at $18,906,755. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total value of $283,725.00. Following the sale, the insider now owns 38,983 shares of the company’s stock, valued at $18,906,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 31,465 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $491.49, for a total transaction of $15,464,732.85. The disclosure for this sale can be found here. Insiders sold 233,512 shares of company stock valued at $113,597,536 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on META shares. Deutsche Bank Aktiengesellschaft cut their price target 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. Raymond James upped their price target on Meta Platforms from $525.00 to $550.00 and gave the company a “strong-buy” rating in a research note on Wednesday, June 5th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Canaccord Genuity Group decreased their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Robert W. Baird dropped their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $510.05.

Meta Platforms Trading Up 1.3 %

Shares of META stock opened at $519.56 on Friday. The firm has a market capitalization of $1.32 trillion, a PE ratio of 29.84, a P/E/G ratio of 1.33 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 business’s fifty day moving average price is $479.53 and its 200 day moving average price is $452.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS 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 firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

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.