MorganRosel Wealth Management LLC Purchases New Position in Meta Platforms, Inc. (NASDAQ:META)

MorganRosel Wealth Management LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 481 shares of the social networking company’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alps Advisors Inc. lifted its stake in shares of Meta Platforms by 69.9% in the third quarter. Alps Advisors Inc. now owns 26,817 shares of the social networking company’s stock worth $8,051,000 after buying an additional 11,033 shares in the last quarter. Evergreen Capital Management LLC raised its position in Meta Platforms by 0.4% in the third quarter. Evergreen Capital Management LLC now owns 28,577 shares of the social networking company’s stock worth $8,579,000 after acquiring an additional 125 shares during the period. Elevatus Welath Management bought a new position in Meta Platforms in the third quarter worth approximately $506,000. Lowe Brockenbrough & Co. Inc. raised its position in Meta Platforms by 3.4% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 57,612 shares of the social networking company’s stock worth $17,296,000 after acquiring an additional 1,899 shares during the period. Finally, Lone Pine Capital LLC purchased a new stake in shares of Meta Platforms in the third quarter worth $834,315,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Canaccord Genuity Group lowered 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. Robert W. Baird lowered 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. Sanford C. Bernstein decreased their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Roth Mkm raised their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research 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 issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $511.27.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $514.96, for a total transaction of $8,600,861.92. Following the completion of the sale, the chief executive officer now owns 213,007 shares of the company’s stock, valued at $109,690,084.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $514.96, for a total value of $8,600,861.92. Following the completion of the sale, the chief executive officer now owns 213,007 shares of the company’s stock, valued at $109,690,084.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the transaction, the chief financial officer now directly owns 74,580 shares in the company, valued at approximately $35,190,573. The disclosure for this sale can be found here. Insiders sold 218,086 shares of company stock valued at $106,423,370 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

META opened at $504.68 on Tuesday. 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 firm has a fifty day moving average price of $480.46 and a 200 day moving average price of $456.83. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The stock has a market cap of $1.28 trillion, a P/E ratio of 28.99, a P/E/G ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders 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 dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is 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.