SeaCrest Wealth Management LLC Buys 1,624 Shares of Meta Platforms, Inc. (NASDAQ:META)

SeaCrest Wealth Management LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,840 shares of the social networking company’s stock after acquiring an additional 1,624 shares during the quarter. Meta Platforms makes up 1.2% of SeaCrest Wealth Management LLC’s investment portfolio, making the stock its 13th largest position. SeaCrest Wealth Management LLC’s holdings in Meta Platforms were worth $9,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms during the 1st quarter worth approximately $44,000. Clear Investment Research LLC grew its position in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Gilfoyle & Co LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $39,000. Finally, Cranbrook Wealth Management LLC grew its position in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $503.08, for a total value of $8,402,442.16. Following the sale, the chief executive officer now directly owns 204,280 shares in the company, valued at $102,769,182.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $500.57, for a total transaction of $453,015.85. Following the sale, the insider now directly owns 37,845 shares in the company, valued at $18,944,071.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $503.08, for a total value of $8,402,442.16. Following the sale, the chief executive officer now owns 204,280 shares in the company, valued at $102,769,182.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 252,395 shares of company stock worth $123,781,816. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META opened at $509.96 on Thursday. 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 capitalization of $1.29 trillion, a P/E ratio of 29.29, 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 business’s 50-day moving average is $481.05 and its 200 day moving average is $458.42.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on META. The Goldman Sachs Group cut their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group cut their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. BNP Paribas began coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price objective on the stock. Finally, Truist Financial cut their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.