BostonPremier Wealth LLC Grows Position in Meta Platforms, Inc. (NASDAQ:META)

BostonPremier Wealth LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 10.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 435 shares of the social networking company’s stock after buying an additional 41 shares during the period. BostonPremier Wealth LLC’s holdings in Meta Platforms were worth $251,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms during the fourth quarter worth $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the 4th quarter valued at about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms in the 4th quarter valued at about $47,000. Finally, Principia Wealth Advisory LLC increased its stake in Meta Platforms by 53.6% during the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock worth $50,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total value of $577,513.05. Following the transaction, the insider now owns 31,182 shares in the company, valued at $19,552,673.10. The trade was a 2.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 8,312 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $702.13, for a total value of $5,836,104.56. Following the sale, the chief executive officer now directly owns 88,372 shares of the company’s stock, valued at approximately $62,048,632.36. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,512 shares of company stock worth $73,590,232. 13.61% of the stock is owned by company insiders.

Meta Platforms Trading Down 0.2%

META opened at $695.77 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The business’s 50 day moving average is $615.32 and its two-hundred day moving average is $622.60. The firm has a market cap of $1.75 trillion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) 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 net margin of 39.11% and a return on equity of 38.69%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $4.71 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

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 dividend of $0.525 per share. 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 currently 8.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. UBS Group raised their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. JMP Securities reiterated a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald boosted their target price on Meta Platforms from $676.00 to $807.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $710.00.

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.