Wolff Wiese Magana LLC Purchases 66 Shares of Meta Platforms, Inc. (NASDAQ:META)

Wolff Wiese Magana LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,349 shares of the social networking company’s stock after purchasing an additional 66 shares during the period. Wolff Wiese Magana LLC’s holdings in Meta Platforms were worth $655,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Baird Financial Group Inc. raised its position in Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares during the period. California State Teachers Retirement System raised its position in Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares during the period. Donoghue Forlines LLC raised its position in Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after acquiring an additional 4,054 shares during the period. Daiwa Securities Group Inc. raised its position in Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after acquiring an additional 32,423 shares during the period. Finally, Voyager Global Management LP raised its position in Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The disclosure for this sale can be found here. Insiders sold 218,086 shares of company stock valued at $106,423,370 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $504.68 on Tuesday. 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, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. The firm’s fifty day moving average is $480.46 and its 200 day moving average is $456.83. The firm 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 released its earnings results 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 company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s payout ratio is currently 11.49%.

Analysts Set New Price Targets

Several analysts have commented on META shares. Raymond James lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday. TD Cowen dropped their price target on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wolfe Research dropped their price target 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. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Monday. Finally, Oppenheimer dropped their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $511.27.

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.