Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Sagace Wealth Management LLC

Sagace Wealth Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 104.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 816 shares of the social networking company’s stock after purchasing an additional 416 shares during the period. Sagace Wealth Management LLC’s holdings in Meta Platforms were worth $470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Fjell Capital LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $325,000. Daner Wealth Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter valued at $334,000. Appleton Partners Inc. MA grew its holdings in Meta Platforms by 3.7% during the fourth quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company’s stock worth $15,406,000 after acquiring an additional 951 shares during the period. Finally, Brighton Jones LLC raised its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.1%

Shares of META stock opened at $693.36 on Friday. The company has a market capitalization of $1.74 trillion, a P/E ratio of 28.99, a P/E/G ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. 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 firm has a 50-day moving average price of $600.62 and a 200 day moving average price of $618.50.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $4.71 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on META. Barclays cut their target price on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Wedbush increased their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Roth Capital lifted their price target on Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, May 1st. DA Davidson decreased their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Stifel Nicolaus boosted their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $704.26.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the completion of the transaction, the insider now directly owns 32,103 shares of the company’s stock, valued at $19,269,825.75. The trade was a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 7,802 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $701.96, for a total transaction of $5,476,691.92. Following the sale, the chief executive officer now directly owns 110,477 shares in the company, valued at approximately $77,550,434.92. This represents a 6.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,201 shares of company stock valued at $56,377,837. 13.61% of the stock is currently owned by corporate insiders.

About Meta Platforms

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.