Wealthcare Capital Partners LLC Has $1.14 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Wealthcare Capital Partners LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,969 shares of the social networking company’s stock after buying an additional 116 shares during the quarter. Meta Platforms makes up 0.6% of Wealthcare Capital Partners LLC’s holdings, making the stock its 29th biggest holding. Wealthcare Capital Partners LLC’s holdings in Meta Platforms were worth $1,135,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Meta Platforms during the fourth quarter valued at about $19,949,512,000. GAMMA Investing LLC raised its position in shares of Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after acquiring an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth about $2,243,603,000. Finally, Northern Trust Corp raised its position in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after acquiring an additional 2,787,832 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $671.00, for a total value of $348,249.00. Following the sale, the insider now owns 29,702 shares of the company’s stock, valued at $19,930,042. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert M. Kimmitt sold 475 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $628.25, for a total transaction of $298,418.75. Following the completion of the sale, the director now directly owns 10,272 shares in the company, valued at approximately $6,453,384. This trade represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,171 shares of company stock worth $35,163,457 over the last three months. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Up 1.9%

META opened at $697.71 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company’s 50-day moving average price is $587.67 and its two-hundred day moving average price is $615.18.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.71 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms’s payout ratio is 8.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Guggenheim raised their price objective on Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. KeyCorp lifted their target price on Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Jefferies Financial Group lowered their target price on Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a report on Monday, April 7th. The Goldman Sachs Group lifted their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Bank of America lifted their target price on Meta Platforms from $640.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $702.48.

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.