Trueblood Wealth Management LLC Buys 276 Shares of Meta Platforms, Inc. (NASDAQ:META)

Trueblood Wealth Management LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 32.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,120 shares of the social networking company’s stock after acquiring an additional 276 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Meta Platforms were worth $646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Valley Financial Group Inc. grew its holdings in Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after buying an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC boosted its position in Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after purchasing an additional 14 shares during the last quarter. Seelaus Asset Management LLC boosted its position in Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after purchasing an additional 15 shares during the last quarter. Meredith Wealth Planning boosted its position in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after purchasing an additional 15 shares during the last quarter. Finally, Maiden Cove Capital LLC boosted its position in Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $607.50, for a total transaction of $369,360.00. Following the completion of the sale, the chief operating officer now directly owns 7,446 shares in the company, valued at $4,523,445. This represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 1,462 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the sale, the chief executive officer now owns 139,538 shares of the company’s stock, valued at $97,834,277.94. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,682 shares of company stock worth $56,014,018. 13.61% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $694.14 on Thursday. The firm has a market capitalization of $1.75 trillion, a P/E ratio of 29.02, a P/E/G ratio of 1.42 and a beta of 1.26. 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’s 50-day simple moving average is $597.08 and its two-hundred day simple moving average is $617.62. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

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

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Analyst Ratings Changes

META has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $675.00 to $735.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Morgan Stanley boosted their price objective on Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Oppenheimer boosted their price objective on Meta Platforms from $650.00 to $665.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Bank of America boosted their price objective on Meta Platforms from $640.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Susquehanna cut their price objective on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. One equities 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.