Congress Wealth Management LLC DE Purchases 15,949 Shares of Meta Platforms, Inc. (NASDAQ:META)

Congress Wealth Management LLC DE lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 34.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,486 shares of the social networking company’s stock after purchasing an additional 15,949 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Meta Platforms were worth $30,342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after acquiring an additional 3,104,550 shares in the last quarter. Capital World Investors lifted its position in Meta Platforms by 2.5% in the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after acquiring an additional 927,491 shares in the last quarter. Morgan Stanley lifted its position in Meta Platforms by 3.4% in 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 acquiring an additional 1,184,978 shares in the last quarter. Capital International Investors lifted its position in Meta Platforms by 3.2% in 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 acquiring an additional 1,083,719 shares in the last quarter. Finally, Norges Bank bought a new stake in Meta Platforms in the 4th quarter valued at $11,285,855,000. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the sale, the director now owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred 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 approximately $109,690,084.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. 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 Stock Performance

NASDAQ META opened at $509.50 on Wednesday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.29 trillion, a P/E ratio of 29.26, a P/E/G ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The firm has a 50-day moving average price of $480.72 and a two-hundred day moving average price of $458.05.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate 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 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on META shares. Sanford C. Bernstein cut their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. UBS Group cut their price target 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. Citigroup cut their price target on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Robert W. Baird cut their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Finally, TD Cowen cut 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 report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.

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.