Hedeker Wealth LLC Makes New $3.33 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Hedeker Wealth LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,850 shares of the social networking company’s stock, valued at approximately $3,326,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Handelsinvest Investeringsforvaltning bought a new position in shares of Meta Platforms in the 1st quarter worth approximately $4,146,000. Plimoth Trust Co. LLC raised its position in shares of Meta Platforms by 16.0% in the 1st quarter. Plimoth Trust Co. LLC now owns 1,606 shares of the social networking company’s stock worth $780,000 after acquiring an additional 221 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Meta Platforms by 8.9% in the 1st quarter. SeaCrest Wealth Management LLC now owns 19,840 shares of the social networking company’s stock worth $9,634,000 after acquiring an additional 1,624 shares in the last quarter. Saxon Interests Inc. raised its position in shares of Meta Platforms by 4.3% in the 1st quarter. Saxon Interests Inc. now owns 5,409 shares of the social networking company’s stock worth $2,627,000 after acquiring an additional 225 shares in the last quarter. Finally, Naviter Wealth LLC raised its position in shares of Meta Platforms by 50.9% in the 1st quarter. Naviter Wealth LLC now owns 8,952 shares of the social networking company’s stock worth $4,347,000 after acquiring an additional 3,019 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 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 $4,223,529.35. Following the sale, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. 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 Meta Platforms stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the sale, the chief financial officer now directly owns 74,580 shares in the company, valued at $35,190,573. The disclosure for this sale can be found here. Insiders have sold a total of 252,395 shares of company stock valued at $123,781,816 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

NASDAQ META opened at $509.96 on Thursday. The company has a market capitalization of $1.29 trillion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The business’s fifty day moving average is $481.05 and its 200 day moving average is $458.42. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Sell-side analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on META. TD Cowen reduced their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Monday. Sanford C. Bernstein reduced their price objective on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Roth Mkm raised their price objective on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research 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 given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.