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

Wagner Wealth Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 558 shares of the social networking company’s stock after acquiring an additional 35 shares during the period. Wagner Wealth Management LLC’s holdings in Meta Platforms were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of META. Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $19,949,512,000. GAMMA Investing LLC boosted its holdings in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock valued at $13,517,178,000 after acquiring an additional 23,417,803 shares during the period. Proficio Capital Partners LLC boosted its stake in Meta Platforms by 78,471.1% during the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after purchasing an additional 6,240,810 shares during the period. Raymond James Financial Inc. acquired a new stake in Meta Platforms during the 4th quarter worth $2,243,603,000. Finally, Northern Trust Corp boosted its stake in Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $695.77 on Thursday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The stock has a market cap of $1.75 trillion, a P/E ratio of 27.14, a PEG ratio of 1.72 and a beta of 1.26. The company has a 50-day moving average of $612.33 and a two-hundred day moving average of $621.89.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm posted $4.71 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Guggenheim increased 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. Barclays decreased their price objective on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Scotiabank decreased their price target on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a report on Monday, April 21st. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $664.00 price target on shares of Meta Platforms in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $710.00.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now owns 5,622 shares of the company’s stock, valued at $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 1,462 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the completion of the transaction, the chief executive officer now directly owns 139,538 shares of the company’s stock, valued at approximately $97,834,277.94. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,512 shares of company stock valued at $73,590,232. 13.61% of the stock is owned by insiders.

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.