Abundance Wealth Counselors Has $2.69 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Abundance Wealth Counselors cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,537 shares of the social networking company’s stock after selling 164 shares during the period. Meta Platforms comprises approximately 0.6% of Abundance Wealth Counselors’ investment portfolio, making the stock its 24th biggest position. Abundance Wealth Counselors’ holdings in Meta Platforms were worth $2,689,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of META. Beaird Harris Wealth Management LLC grew its stake in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth $32,000. Clear Investment Research LLC grew its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Cranbrook Wealth Management LLC grew its stake in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Rosenblatt Securities raised their target price on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Truist Financial reduced their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group reduced their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, JMP Securities restated a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $511.27.

Meta Platforms Stock Up 0.1 %

Meta Platforms stock opened at $509.96 on Friday. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 1.32 and a beta of 1.21. 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 firm has a 50 day simple moving average of $482.42 and a 200 day simple moving average of $458.78.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. On average, analysts predict that Meta Platforms, Inc. will post 20.15 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were 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 of the company’s stock, valued at $35,190,573. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 of the company’s stock, valued at $35,190,573. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. Insiders sold 251,905 shares of company stock valued at $123,528,726 over the last three months. Insiders own 13.71% of the company’s stock.

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.