LVW Advisors LLC Acquires 834 Shares of Meta Platforms, Inc. (NASDAQ:META)

LVW Advisors LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,164 shares of the social networking company’s stock after acquiring an additional 834 shares during the period. Meta Platforms accounts for approximately 0.6% of LVW Advisors LLC’s holdings, making the stock its 29th biggest holding. LVW Advisors LLC’s holdings in Meta Platforms were worth $3,479,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Capital World Investors boosted its position in Meta Platforms by 2.5% in the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares during the last quarter. Morgan Stanley grew its stake in shares of Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after purchasing an additional 1,184,978 shares during the period. Capital International Investors increased its position in shares of Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after purchasing an additional 1,083,719 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Meta Platforms in the 4th quarter worth approximately $11,285,855,000. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. The Goldman Sachs Group reduced their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Guggenheim reduced their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Robert W. Baird lowered their price objective on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Canaccord Genuity Group reduced their target price 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. Finally, Royal Bank of Canada lowered their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two investment 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 given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $511.27.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $516.51, for a total value of $253,089.90. Following the completion of the sale, the chief operating officer now directly owns 8,069 shares in the company, valued at $4,167,719.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $516.51, for a total transaction of $253,089.90. Following the transaction, the chief operating officer now directly owns 8,069 shares of the company’s stock, valued at $4,167,719.19. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 576 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total value of $268,606.08. Following the sale, the insider now owns 36,067 shares of the company’s stock, valued at approximately $16,819,124.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,086 shares of company stock worth $106,423,370. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 0.1 %

NASDAQ:META opened at $504.68 on Tuesday. The stock has a fifty day simple moving average of $480.46 and a 200-day simple moving average of $456.83. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. 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 (EPS) for the quarter, beating the consensus estimate 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%. Analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 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.